Lufthansa Group's provisional figures reveal a loss of Euro591 million ($511 million) for 2001, compared with a Euro689 million profit in 2000. The German airline group's operating profit was Euro20 million, but extraordinary depreciation of around Euro500 million and a Euro180 million provision for losses in the catering business, contributed to an overall loss. The German airline is not planning a shareholders dividend. The 2001 operating profit is well down on 2000's Euro1.04 billion, says the group, attributing the downturn to the 11 September terrorist attacks and the weakened global economy. Revenues climbed 10% to Euro16.7 billion because of changes in the group, but adjusted for these changes, the figure is slightly below that for 2000. Meanwhile, Wolfgang Mayrhuber, chief executive officer passenger business, has been appointed deputy chairman, effective from 1 April.
Source: Flight International
