Lufthansa Posts $1bn Half-Year Net Profit

German flag carrier Lufthansa has confirmed a net profit of €954m ($1bn) for the first six months of 2015.

German flag carrier Lufthansa has confirmed a net profit of €954m ($1bn) for the first six months of 2015.

The results are in contrast to the €79m ($86m) net loss the airline announced in the same period last year.

Lufthansa attributed €503m ($551m) of its net profit to the “an accounting effect” resulting from an appreciation in equity capital following its redemption of JetBlue convertible bonds in the first quarter of 2015.

Operating revenues rose 8.5 per cent to €15.4bn ($16.8bn), compared to €14.2bn ($15.5bn) the previous year, while Lufthansa’s fuel costs fell by €309m ($338m).

TAGS: Europe
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