Lufthansa still in the red
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Operating profits increased for Lufthansa, but the airline still registered an H1 net loss.Cost management measures helped generate operating profit of EUR3 million in the first half of 2011. This marks a significant yoy improvement of EUR174 million from the same period last year. According to an Airline statement, the marked progress is down to cost management measures and robust sales growth of 11.4% to EUR14.1 billion.However the company still registered a net loss of EUR206 million for the period. Management attributes this to the impacts of the earthquake in Japan, the political unrest in North Africa and the Middle East and the high oil prices which burdened the result. Nonetheless, the board expects positive growth through the rest of the year, with improved revenues and operating performances on 2010.
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