Deutsche Lufthansa, Europe's second largest airline, has said that...
Deutsche Lufthansa, Europe's second largest airline, has said that it expects a ?markedly improved? operating result in 2002 as travelers return to flying after the September 11th hijackings scared them away.
Lufthansa will post improved first-quarter and full-year operating profit, said Chief Executive Juergen Weber at a press conference. Operating profit fell ninety seven percent to 28 million euros ($25 million) for 2001.
?I'm quite encouraged by what they've said, that the first quarter will not disappoint, and that 2002 will be that much better,? said Rebecca Langley, an analyst at Kleinwort Benson Wasserstein in London.
Demand for air travel is reviving after falling by as much as a third after September 11th. European carriers' traffic in the week ended April 14 fell 6.2 percent from a year ago, compared with an average drop of twenty percent in October. Lufthansa has said it lost $45 million a week in sales after the attacks.