Lufthansa's profits feel the pinch

Lufthansa has made an operating loss of 44 million euros in the traditionally tough first three months of 2009. In the current business year the biggest German airline was not able to live up to its record success of the previous year, due to a world-wide depression as well as the on-going poor economic climate.

“The current crisis is putting a strain on our profits,” said Stephan Gemkow, the Chief Financial Officer for Lufthansa, of the company’s first quarter figures, “but our foundations are solid and we have the right instruments to take counter action. Now we will see who is prepared and able to react effectively against these difficult conditions. Lufthansa is a strong company and can hold its course, even in difficult times.”