Lufthansa lowered net profit by 39% in the fourth quarter

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Germany's leading airline Lufthansa, following the results of the fourth quarter, reported on the fall in net profit by 38.7% in annual terms to 343 million euros. Its revenue in the amount of 8 billion 950 million euros showed an annual growth of 6%. According to the 2018 report, the company received a net profit of 2 billion 163 million euros, which is 8% less than in 2017. Revenues amounted to 35 billion 844 million euros, an increase of 1%. EBIT, which does not include one-time expenses, was reduced by 4% to 2 billion 836 million euros. The main reasons for the decline in profits are the increase in fuel costs and lower prices for air tickets. The company increased its fuel costs by 850 million euros. Its costs as a result of delays and cancellations of flights increased over the year by 518 million euros.

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