Lufthansa posts record profits in 2007

By SSI staff writer

ADDIS ABABA, Ethiopia- Deutsche Lufthansa AG posted record figures for profit and revenue in 2007 for the second year in a row.
The Group profit after taxes was 1.7 billion euros, more than double that of the previous year. Revenue during the last year increased by 13 percent to 22.4 billion euros. The operating profit also climbed to a new record peak at 1.4 billion euros, which was equivalent to a rise of 63.1 per cent. Lufthansa Chairman and CEO Wolfgang Mayrhuber praised the level and quality of the result, as well as the renewed improvement of the already solid result saying: “The result emphasizes the excellent performance that has been rendered by everyone here at Lufthansa. It is especially worth mentioning that we have achieved this record result at a time when fuel prices are at their highest, financial markets are full of uncertainty and competition is harder than ever. The course that we have set is one of sustainability.” Mayrhuber added that the outstanding figures were the result of the company’s successful efforts to make Lufthansa an even greater asset for investors and a more attractive product for customers. In view of the excellent development of the operating profit, the Group Executive Board and the Supervisory Board will be proposing a 55 cent higher dividend of 1.25 euros per share at the annual general meeting.


March 21, 2008