Stephan Gemkow

Airline group Deutsche Lufthansa AG more than doubled its net earnings to euro194 million ($252 million) in the second quarter as ticket sales and its cargo business recovered, the company said Thursday. Earnings in the April-June period compared with last year's equivalent of euro89 million. The company also said revenue rose by more than 30 percent to euro6.9 billion from euro5.2 billion, while operating profit trebled to euro159 million. Lufthansa, Germany's biggest airline, said...Read Full Story

Lufthansa, the biggest European airline, said on Wednesday it expected stronger profits this year despite a sharp first-quarter loss, but stressed the environment was uncertain. "The executive board of Lufthansa expects a rise in revenue and a positive operating result for the group," finance director Stephan Gemkow said in a statement that hailed stronger demand within the ailing air traffic sector. Gemkow added however that "a recovery in demand is not enough to secure a good result, cost...Read Full Story

Germany's leading airline, Lufthansa, reported disappointing results Thursday in response to a global travel slump and pledged to cut costs sharply. The latest figures made the carrier's full-year target of an operating profit harder to reach but it nonetheless maintained the forecast. "I am doubtful about a rapid and sustained rebound" of the global economy and thus the air transport sector too, Lufthansa finance director Stephan Gemkow told a telephone news conference. An increase in...Read Full Story

Germany's leading airline, Lufthansa, reported on Thursday disappointing first half results due to the global travel slump and pledged to cut costs sharply. It said the outcome made its full-year target of an operating profit harder to reach but it maintained the forecast. "We still cannot be satisfied with this result," finance director Stephan Gemkow said in a statement after Lufthansa posted an operating profit of eight million euros (11.3 million dollars) and pledged to cut costs in its...Read Full Story

Virgin Atlantic Airways Ltd . made an offer for BMI a unit of Deutsche Lufthansa AG (LHA) , in United Kingdom, following its main rival British Airways parent IAG has also offered to acquire the airline. According to Claudia Lange, Lufthansa’s spokeswoman, told, both carriers are meticulously pursuing it with their own proposals and both are having an equal chance of winning the bid.  As per the records, International Consolidated Airlines Group SA also proclaimed its bid last month...Read Full Story