Lufthansa achieves record results after Air Berlin bankruptcy

Lufthansa achieves record results after Air Berlin bankruptcy

German airline Lufthansa has achieved its best results ever following the bankruptcy of smaller rival Air Berlin last year.

Operating profit increased by 70 per cent year on year in 2017 to 3 billion euros (3.7 billion dollars), the company said on Thursday in Frankfurt.

Chief executive Carsten Spohr forecast a slight decrease in profit for 2018.

Net profits rose by one third over the year to 2.4 billion euros. An agreement with pilots over the company pension plan had a positive effect on the net results.

Shareholders will receive a dividend of 80 cents per share, a increase of 60 per cent on last year. The dividend is expected to remain at the same level in 2018.

The group’s passenger airlines contributed to the positive results, especially Lufthansa, Swiss, Austrian Airlines and Eurowings, but also the freight subsidiary Lufthansa Cargo.

Lufthansa’s sales grew by 12 per cent over the year to 35.6 billion euros.

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Obineme Ndubuisi Micheal, Technical | Creative and Senior News Writer, covering the entire value chain of the Energy Industry. Our publication covers the entire value chain of Renewable/Energy, Power, Mining, To get in touch, email: oilandgasrepublic@gmail.com

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