Deutsche Lufthansa posts second quarter profit
German national carrier Deutsche Lufthansa AG has posted a second-quarter operating profit of €65m, up from a loss of €415m in the first quarter, but said it still expects a full-year operating loss.
Lufthansa, which posted a €320m profit in the second quarter last year, had been expected to post a loss for this year's second quarter because of effects of the SARS epidemic, the Iraq war and the global economic slowdown.
Lufthansa chairman Wolfgang Mayrhuber said "Even though we fared better in the second quarter than many other carriers, we must remain on our guard. The aviation industry is still operating in a difficult economic environment. But it looks like we have now come through the worst".
Mayrhuber said Lufthansa managed to achieve a second-quarter operating profit through its capacity and cost management strategy.
Net debt currently stands at €1.3bn, it added.
