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Austrian Airlines will make loss in 2011, owner Lufthansa says
Aug 22, 2011, 10:54 GMT
Vienna - Lufthansa's loss-making subsidiary Austrian Airlines will not achieve the planned turnaround of its operating result this year, an executive of the German aviation group said Monday in Vienna.
Three of Lufthansa's four subsidiaries - Austrian Airlines, British Midland and Germanwings - made operating losses in the first six months of the year. Only the carrier Swiss made an operating profit.
In 2010, the first year after Lufthansa took over the ailing Austrian flag carrier, they met the goal of achieving a positive cash flow, said Lufthansa executive board member Stefan Lauer, according to Austrian Press Agency APA.
'But we will not meet the goals we set for 2011,' he added.
Lufthansa reported an overall net loss of 206 million euros (297 million dollars) for the first half of the year, when the industry was impacted by unrest in North Africa and by the Japanese nuclear disaster. Nevertheless, the group made an operating profit of 3 million euros.
Austrian Airlines' operating loss in that period was 64 million euros.
Lauer was in Vienna for the naming of a new Lufthansa Airbus A380 aeroplane.
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