20 MARCH 2017

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2017 Business Travel News Ltd.

Article from BTNews 20 MARCH 2017

Lufthansa profit climbs

In spite of what was termed a damaging series of strikes, the Lufthansa Group made a net profit of €1.78bn (about £1.5bn, $1.91bn) for 2016, a 4.6% increase over the previous year.

Annual revenue fell by 1.2% to €31.66bn as traffic revenue dropped by 3.3%. Operating expenses were 5.3% lower at €31.75bn, with fuel costs down by 15.5% and staff costs by 8.9%.

Although staff numbers rose by 3.1% during the year, the group said costs were reduced partly by a change to retirement and transitional benefits for cabin crew at Lufthansa mainline. This led to a saving of €652m over the year.

The group carried 109.7m passengers in 2016, a year-on-year increase of 1.8%. Capacity, in available seat km (ASK), rose by 4.6% as larger aircraft were introduced on certain routes.

Lufthansa said capacity growth was particularly strong to the Americas, but shrank in the Middle East and Africa region. Europe and Asia capacity growth was in line with the average.

A cause for concern was the push by low-cost airlines into the higher-value business travel segment, such as Ryanair into Lufthansa’s Frankfurt hub, which, Lufthansa said, “puts severe structural pressure on the airlines in the group”. 

www.lufthansagroup.com

Index/Home page
 

OUR READERS FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.


www.btnews.co.uk Subscribe Change details Contact Us Search