Lufthansa to hit profit forecasts ahead of schedule, Q1 profits up at $753mn
27 Apr 2007
Cologne, Germany: With better-than-expected first-quarter results, German airline Lufthansa, says it expects to reach an operating profit of $1.35 billion in 2007, a year ahead of schedule.
Last year, the airline posted an operating profit of $1.14 billion.
The Cologne-based airline posted a net profit in the first three months of 2007 of $753 million, compared with a loss of $133.2 million in the year-earlier period.
The company said its positive results were based on "successful cost management" and bolstered by a gain of $678.4 million from the sale of its 50 per cent stake in Thomas Cook, along with a $48.9 million profit from its Swiss International Airlines unit