BMI disposal negatively impacts Lufthansa 2011 results

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Lufthansa Group's full-year operating profit fell to €820 million ($1.07 billion) in 2011, compared to the €1 billion operating profit recorded the previous year.

This included a €285 million hit related to losses at BMI and the effects of disposing of the subsidiary.

Preliminary financial information from the company shows that it made a net loss of €13 million, compared to the net profit of €1.1 billion posted a year earlier.

Revenue for the year grew to €28.7 billion from €26.5 billion in 2010.

The airline group is proposing a dividend of 25 cents per share for 2011 "to let shareholders participate in the successful operating performance in the reporting year in a way that is justifiable to the financial profile".

Lufthansa will release full details of its financial performance on 15 March.