Lufthansa Cargo EBIT improves in 2004

Lufthansa Cargo generated €33.5 million ($42.9 million) in operating profits during 2004, reversing a loss of €16 million in 2003, but showed red ink on the bottom line, posting a net loss of €39.5 million, which it attributed partly to one-time charges and a 38.4% hike in fuel costs. Comparisons with 2003 are complicated owing to the fact that in 2004 LHC consolidated accounts for all of its logistics business units within Lufthansa Group. Although a general recovery in ...