Deutsche Lufthansa expects its operating profit to improve this year compared with 2009, though its recent acquisitions will still weigh on earnings, the flagship carrier said today.
"At present it is not yet possible to determine the operating result more precisely or to quantify it," Lufthansa said.
Last September, Lufthansa completed a shopping spree, adding Brussels Airlines, Austrian Airlines and BMI to its stable of carriers. It also set up its own Italian airline, called Lufthansa Italia.
Lufthansa published key 2009 earnings on March 2, saying its operating profit dropped by 90 per cent to €130 million. That figure still beat an anayst estimate of €31 million.
Lufthansa also said yesterday that it expects its revenues to rise this year after dropping about 10 per cent to €22.28 billion in 2009.
Airlines are still reeling from the aviation industry's worst year in decades. But the International Air Transport Association said last week that it was cautiously optimistic for 2010 after passenger demand improved in January.
Reuters