Lufthansa profits slide amid restructuringOctober 31, 2013 @ 4:14 am
FRANKFURT, Germany (AP) - German airline Lufthansa says net profit for the first nine months of the year fell 65 percent, to 247 million euros ($340 million) from 697 million euros in the same period a year ago.
The company said restructuring costs and one-time effects played a role in the profit decline. It said Thursday it was making progress in controlling costs and that its passenger business _ which includes Lufthansa, local carrier Germanwings, Swiss, and Austrian Airlines _ improved their contributions to earnings.
It said a key measure of costs, the so-called costs per available seat kilometer, fell by 1.2 percent for the period.
Total revenue was 0.2 percent below the year earlier period, at 22.76 billion euros.
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