Unflug
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Lufthansa Group Earnings Improve In Q2

Thu Aug 02, 2012 11:17 am

Press release:

http://investor-relations.lufthansa....ntwicklung-im-zweiten-quartal.html

Interim report:

http://investor-relations.lufthansa....d-interim-report-jan-jun-2012.html

Group earns operating profit in the second quarter and reduces its operating loss for the half-year to EUR 20m / Forecast for 2012 confirmed: operating profit in the medium three-figure million euro range.

Capacity measures have a positive effect on earnings, but were not able to make up for higher fuel expenses. Lufthansa German Airlines still reports an operating loss (-300m) for the first six months.

Swiss was still profitable (48m), but due to fuel cost and strong Swiss franc below last years numbers.

Service segments do very well, especially Lufthansa Technik with an operating profit of 144m (+ 36%).

IMO not nearly as bad as predicted in a previous thread: LH In More Trouble (by LH506 Apr 21 2012 in Civil Aviation)
 
PanHAM
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RE: Lufthansa Group Earnings Improve In Q2

Thu Aug 02, 2012 11:34 am

To be added to the above that cargo made a profit despite the economic down turn and the shackles they have due to the night curfew at the FRA hub.

Overall, compared with the competition in the west a good performance. The report shows that LH runs a tight shop, absolute cost control with increasing revenues at the same time.
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JU068
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RE: Lufthansa Group Earnings Improve In Q2

Thu Aug 02, 2012 11:43 am

'' Austrian Airlines successfully completed important restructuring measures by transferring its operations to Tyrolean Airways, thus taking another step towards becoming competitive. This resulted in positive non-recurring effects, enabling the company to generate an operating profit of EUR 26m (previous year: EUR -64m) in the first half-year.''

Nice to see Austrian Airlines improve their financial performance. Hopefully it will perform even better in the future.

Shame to see Larnaca being cancelled from Frankfurt and downgraded to only two weekly flights from Munich. I guess this market is left to Austrian Airlines which has operated double daily flights since Malév's demise back in February.
Until recently Lufthansa used to operate daily flights on the A300-600 (with additional night flights on the A321).

I also saw that they will be cancelling flights from Frankfurt to Casablanca, London Gatwick, Palma de Mallorca and Naples. Didn't they launch flights to London Gatwick just recently?
 
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 3:26 am

Quoting ju068 (Reply 2):
Nice to see Austrian Airlines improve their financial performance. Hopefully it will perform even better in the future.

Austrian is in the middle of its restructuring process. Without the one-off effects of transferring flight operatons to Tyrolean Airways the operating loss is 55m compared to 63m in the first half of 2011. Still a significant loss, but an improvement giving reason for some hope...

Austrian press release:

http://www.austrianairlines.ag/Press...10D62-182E-4A98-837E-6032A0EE881A}

Swiss press release Q2:

http://www.swiss.com/web/EN/about_sw...0Business%20Report%20Q2%202012.pdf

[Edited 2012-08-02 20:30:08]
 
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 4:59 am

And some claimed AF-KL improved.  

I'm impressed by LH staying in the black. Kudos.

Quoting PanHAM (Reply 1):
To be added to the above that cargo made a profit despite the economic down turn and the shackles they have due to the night curfew at the FRA hub.

   That is *much* better than I expected. However, I do expect LH Cargo to 'right size' many freighters due to the new reality.

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PanHAM
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 6:00 am

It does not matter what the size of the freighters are, if you cannot fly when your customers demand you have to turn their business away. Simple matter. In the worst case, the exporting industry that cannot bring their products in the required time has to look for a new location.
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lightsaber
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 6:11 am

Quoting PanHAM (Reply 5):
It does not matter what the size of the freighters are, if you cannot fly when your customers demand you have to turn their business away

   But there is always a spectrum of customers. Hence why I think a right sized fleet will work. A very profitable chunk of cargo is now bypassing FRA (as we have agreed in the past). I'm on your side. I wanted to keep FRA 24/7 with a QC noise quota of 100 for landing and 100 for takeoff instead of a shutdown!

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mikey72
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 7:11 am

Good performance by LH group.

When one casts an eye over Europe.... I envy the Lufthansa/Swiss pairing.
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Semaex
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 10:40 am

I absolutely adore the sense of humor at Lufthansa. Check out the first page of the Interim Report
  

Kudos to LH for the good numbers! I'm especially happy with the OS results, since the airline seem to have been doomed to stay in the red for the rest of time. I'm guessing the new Terminal will add to the future success of AUA.
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Stratofish
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 1:05 pm

The report further proves my point that things are going way better at LH and all that doomsday rhetoric of the current board is factually wrong and uncalled for. What do they want to say if one day they find themselves in real trouble?

Let's hope the unions will gain momentum from these figures and stop SCORE altogether.
UFO organized FAs will publish their vote next week, we shall see.
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PanHAM
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 1:24 pm

That's the completely wrong conclusion, Stratofish.

SCORE is the reason why the figures are better, but the data is not good enough yet. Money has to be earned every day, it is a constant battle.

Direct the unions against political shackles such as one sided eco taxes, passenger taxes and night bans. The additional revenue earned that way can be used to please employees.

Wages, like taxes and everything else are costs and if the costs are too high a responsible management must act. That is what LH is doing with SCORE.

You should be glad that you work for a company that splits profits made in good years three ways. One third remains in the company to allow self financed growth., one third goes to the shareholders (we need income as well) and one thrid goes to the employees as bonus on top of the regular wages.
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LAXintl
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 2:20 pm

This news story says following the earnings news, Lufthansa plans on curbing growth and decommissioning 25 aircraft remainder of the year.

Any details ?


Lufthansa curbs growth again as big fuel bill looms
http://www.reuters.com/article/2012/...ansa-results-idUSLNE87101520120802

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PanHAM
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 3:11 pm

Well, it says that 25 aircraft are leavong the fllet while 40 new jets joing the fleet. That may not be true,m but there have been additions already this year while 733 and 744s are phased out, same with the remainingt Avros

.
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RE: Lufthansa Group Earnings Improve In Q2

Fri Aug 03, 2012 5:21 pm

Quoting Stratofish (Reply 9):

Let's hope the unions will gain momentum from these figures and stop SCORE altogether.

That would be a really stupid move in my opinion. Stop SCORE, loose money, shut down the company if no money is left or ask for state aid. Well done...

Quoting LAXintl (Reply 11):
This news story says following the earnings news, Lufthansa plans on curbing growth and decommissioning 25 aircraft remainder of the year.

According to the news story the number of seats will still grow by 0.5% - so at least not (yet) declining.