Lufthansa Group’s sound quarter

THE Lufthansa Group is anticipating annual 2014 operating profits of between €1.3bn and €1.5bn after an operating result of minus €245m for the first quarter of 2014, a period that is traditionally the weakest of the year.
The net result for the quarter amounted to minus €252m, a substantial €206m improvement on the first three months of 2013.
With rigorous cost discipline in a still-tough market environment, Lufthansa Cargo achieved a solid operating profit of €21m in the quarter, which compares to €28m for the prior-year period.
“This is a sound first-quarter performance and a slight improvement in our [overall] results for the period in a difficult market environment,” admits Simone Menne, the group’s chief financial officer.
“We have improved our cost structures, and have taken various actions to enhance the quality of our revenues. And we will continue with our consistent efforts to further raise our efficiency,” she adds.
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