Higher yields help Lufthansa Cargo profits grow
Lufthansa Cargo is continuing to have a strong year with profits up 43 per cent in the first nine months helped by higher yields. Between January and September, earnings before interest and tax (EBIT) in Lufthansa’s Logistics sector, which includes Lufthansa Cargo increased 43 per cent to €150 million and was also up 19 per […]
Akbar Al Baker assumes role as IATA board of governors chairman
Qatar Airways Group chief executive, His Excellency Akbar Al Baker has assumed his role as chairman of the IATA Board of Governors for a one year term. He is succeeding Singapore Airlines chief executive officer (CEO), Goh Choon Phong and will be the 77th chairman when his term starts at the conclusion of the 74th […]
Lufthansa Cargo recovers from the challenges of 2016
Lufthansa Cargo is recovering from the challenges of 2016 with the Logistics business segment posting an EBITDA profit of €167 million ($196 million) between January and September. Earnings before interest, tax, depreciation and amortisation (EBITDA) improved by 16,600 per cent from €1 million between January and September 2016, and the third quarter also recovered, growing […]
Brussels Airlines taken over by Lufthansa
Lufthansa has taken over Brussels Airlines acquiring the remaining 55 per cent of the shares at a cost of 2.6 million euros ($2.7 million). Brussels Airlines will be fully integrated into the Lufthansa Group in 2018 joining the Eurowings Group, which Lufthansa says will strengthen its market position. Lufthansa had acquired a 45 per cent […]
Lufthansa Cargo revenue slides 16%
Lufthansa Cargo’s revenue has declined 15.9 per cent to €1.5 billion ($1.6 billion) and has increased losses in the third quarter, though it remains hopeful that things will improve by the end of the year. The Lufthansa Logistics segment, which includes Lufthansa Cargo, posted an earnings before interest and tax (EBIT) loss of €69 million […]
Airlines for Europe association launched
The association, Airlines for Europe (A4E) has been launched by Air France KLM, easyJet, International Airlines Group (IAG), Lufthansa Group and Ryanair, to lobby for lower costs and increased efficiency. It was launched on the eve of the European Union (EU) Aviation Summit in Amsterdam to lobby for the lowering of costs at EU airports, […]
Lufthansa takes delivery of first A320neo
Lufthansa has taken delivery of the first Airbus A320neo, and the first of 116 the German airline has on order. The A320neo has Pratt & Whitney Pure Power Geared Turbofan engines, which the engine builder says burns 15 per cent less fuel than current generation aircraft. Lufthansa chief executive officer (CEO) and chairman of the […]
Lufthansa profits increase but Cargo makes a loss
Lufthansa Group has seen profit increase by 262.7 per cent to 1.7 billion euros ($1.9 billion) helped by selling its stake in JetBlue, the Cargo division making a loss in the third quarter. The Group says 500 million euros of the 1.7 billion euros profit came from selling its equity stake in JetBlue in the […]