Lufthansa group roll out provisional 2001 results
“In view of the losses running into the two-digit billions in our industry, we have attained our ambitious goal of avoiding an operating deficit,” said Lufthansa chairman and CEO Jurgen Weber.
The company’s supervisory board has also appointed Wolfgang Mayrhuber as deputy chairman, effective from April 1. “The supervisory board’s decision is a strong commitment to retaining and expanding our position in the industry, and for the future of Lufthansa. Wolfgang Mayrhuber enjoys my complete confidence and that of the entire executive board,” said Mr Weber.
Mr Mayrhuber has been a member of the airline’s executive board and CEO of passenger business at Deutsche Lufthansa AG since January 1 last year.
The impact of the September 11 terrorist attacks and the weakening global economy gravely affected the past business year. As a result, operating profit remained well below the $910 million returned in the previous year. Changes in the group of consolidated companies lifted revenues by 10 per cent to $14.6 billion. Adjusted for those changes, revenues were slightly below the year-earlier level.
The group loss for the period amounted to $518 million compared to $604 million profit in 2000. Lufthansa will be disclosing all the details of the 2001 annual results at the press conference on April 25.
