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.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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