FRANKFURT: German airline Lufthansa said yesterday it would post a net profit and “significantly higher” operating earnings this year after a tough 2003, which caused investors to question group strategy.
Deutsche Lufthansa AG said sales fell 6% to 15.96 billion euros (US$19.34bil) last year.
It also confirmed that preliminary figures released last month showing 2003 operating profit of 36 million euros and a net loss of 984 million euros due to a write-down on its catering unit.
Lufthansa chief executive Wolfgang Mayrhuber said that despite problems in its catering and tourism divisions, the airline's “aviation group” strategy was not called into question, though he said the group would focus more closely on core businesses. – Reuters