Lufthansa Cargo moves into the black in first quarter

[Gast]

atw:

 

Lufthansa Cargo lifted first-quarter pre-tax results to eur2.8 million ($2.58 million) versus a loss of eur12.9 million in the year-ago period. Operating results climbed 143% to eur19.2 million from eur7.9 million, which Executive Board Chairman Jean-Peter Jansen described as better than expected. The improvement came on the heels of the weakest annual results since LHC became an independent company within Lufthansa Group in Nov. 1994. Jansen said at the firm's annual press conference in Frankfurt that 2001 "was still not a completely lost year for us. We gained market share in Germany, average yields even increased slightly and costs were further reduced. In the last three months of 2001 we managed to cut costs more than we lost revenue." LHC ended 2001 with a slight surplus of eur132,000 from ordinary activities compared with eur163.7million in 2001. Revenues slipped 4.9% year-on-year to eur2.4 billion and EBIT plummeted from eur228.1 million in 2000 to eur66 million in 2001. Demand remained weak at the start of 2002, causing first-quarter revenues to decline 8% to eur555.5 million. Capacity cutbacks lifted utilization 2.7 points to 68.5%. The carrier scaled back traffic 10.5% as overall demand slumped 6.9% on the year-earlier level. Declining to elaborate on details, Jansen said talks with SAS Cargo have been suspended over Lufthansa Cargo taking an equity stake in the alliance partner. The impression was that discussions could resume at an indefinite future date.

[Gast Lighter]

Bravo*klatsch*....Ist doch schön,wenn die Ergebnisse des Konzerne wieder hochgehen, dann gehts ja auch der Branche besser