Lufthansa returns to profit in 2010

March 9, 2011

, FRANKFURT, Mar 9 – Leading German airline, Lufthansa, said Wednesday that it made a net profit of 1.1 billion euros ($1.5 billion) in 2010, compared with a net loss of 34 million euros in 2009.

The group recorded an operating profit of 876 million euros, more than six times the 2009 figure of 130 million euros, on sales that climbed to 27.3 billion euros from 22.3 billion euros, a statement said.

Lufthansa, which also owns the carriers Swiss, Austrian Airlines and BMI, said it benefitted last year from an exceptional tax gain worth around 400 million euros.

"On the basis of this gratifying result," Lufthansa directors will propose a dividend of 0.60 euros per share, the statement said.

Full details of the group\’s results are to be published on March 17.

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