Deutsche Lufthansa AG - a Member of Star Alliance - has announced an operating profit of €200 million / US$229.79 million - below the market expectation of an operating profit of €275 million / US$315 947 500. It also reported a nine month operating loss of €154 million / US$176 930 600.
Net loss for the first nine months of 2003 came at €409 million / US$469 900 100 while the pre-tax loss was €366 million / US$420 497 400.
"Lufthansa Chief Executive Wolfgang Mayrhuber is expected to give details on a plan to cut costs in European traffic on Wednesday, when he will also be grilled on plans for tourism firm Thomas Cook AG, which Lufthansa owns with KarstadtQuelle (KARG)."
More information at the IWon / Reuters website