German flag carrier Lufthansa said on March 14 it hoped to improve operating profit and turnover next year despite turbulent times, as it announced a 36-percent drop in operating profit in 2012. Operating profit plunged by 36.1 percent compared with the previous year to stand at 524 million euros ($679 million) - a decline the firm blamed on a much higher fuel bill than in 2012.
Overall turnover was up 4.9 percent to 30.1 billion euros and net profits also rose strongly thanks to one-off gains from the sales of its British Midland airline and shares in the parent group, it said in its annual earnings statement.
"2013 will be a particularly challenging year for the companies and their employees," warned Lufthansa chief executive Christoph Franz, whose group comprises several airlines including Austrian Airlines and SWISS.
Last year, the group launched a huge restructuring programme in a bid to boost operating profit by 1.5 billion euros in 2015 compared to the 2011 level.