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Lufthansa ... pilot strikes too add to the airlines' loss.

Lufthansa hit by fuel hedging losses in 2014

FRANKFURT, February 21, 2015

Germany's Lufthansa said it will not pay a dividend for 2014 after its results were hit by the sale of an IT unit, an increase in pension liabilities and losses from fuel hedging activities.

Some analysts had already said Lufthansa may not pay a dividend for 2014 after chief financial officer Simone Menne warned in October the dividend payout may be limited.

Europe's largest airline by revenue said pilot strikes in November and December had cost it an additional €62 million ($70.38 million), taking the total amount of operating profit lost to strikes over the course of 2014 to €232 million ($263.3 million).

The company slumped to a loss of €732 million ($828 million) in 2014 from a profit of 407 million ($462 million) the previous year, on the basis of GAAP accounting standards.

It also posted an operating profit of €954 million ($1.08 billion) for the year, against a target for one billion, on revenue flat at 30 billion ($34 billion).

Lufthansa is due to publish full 2014 results on March 12.-Reuters




Tags: Lufthansa | loss |

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