Lufthansa Posts Rise in '05 Operating Profit MOVERS MARKETPLACE By Bloomberg
Posted on: Friday, 20 January 2006, 12:00 CST
Lufthansa said Thursday that operating profit for 2005 rose 44 percent, beating its forecast, on growing demand for air travel.
Operating profit, or sales minus operating expenses excluding gains or costs from asset disposals, rose to about 550 million, or $666 million, from 383 million in 2004, the airline said
. The airline had expected operating profit "significantly above" 400 million. Lufthansa and its larger competitor, Air France-KLM, are among European airlines flying more passengers as economic growth in Asia and the Middle East encourages business and leisure travel. The companies have protected earnings from higher fuel costs by raising fares, adding ticket surcharges and buying oil futures contracts. Shares of Lufthansa rose 27 cents, or 2.2 percent, to close at 12.72.Source: International Herald Tribune
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