Lufthansa profits soar, raises outlook

27th October 2010, Comments 0 comments

Germany's leading airline, Lufthansa, said Wednesday it had recorded nine-month sales of 20.2 billion euros (27.8 billion dollars) and raised its outlook for 2010 operating profit.

Lufthansa posted a nine-month operating profit of 612 million euros, a gain of 386 million euros from the same period in 2009.

"The executive board has revised its expectations for earnings upwards and now anticipates that the operating result for the full year will exceed the 800 million (euros) mark," a statement said.

Net profit for the nine-month period soared to 524 million euros from just 31 million a year earlier, it added.

"The nine-month earnings reflect both the measures undertaken in the group to reduce costs and the gratifying pace of demand in the third quarter, particularly in the freight and intercontinental passenger businesses," the airline said.

© 2010 AFP

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