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Lufthansa jumps back to profit as travel restrictions ease -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Lufthansa airplanes can be seen being parked at Frankfurt Airport in Germany on June 25, 2020. REUTERS/Kai Pfaffenbach

BERLIN (Reuters – Germany’s Lufthansa reported a third quarter return to operating profits on Wednesday. This was the first since the outbreak of the pandemic. Its performance has been aided by COVID-19 travel restrictions being eased and strong summer demand.

In the third quarter of 2018, adjusted earnings before tax and interest were 17 million euros (or 19.69 millions). This compares to an annual loss of 1.262 trillion euros.

A poll of analysts conducted by company personnel showed that the average EBIT loss was 33 million euros.

Comparable to the average analyst prediction of 5.5 million, third-quarter revenues almost doubled at 5.2 billion euros.

($1 = 0.8634 euros)

(This story was rewritten at the correct weekday in paragraph 1

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