Lufthansa Airline Profits boosted by lower Fuel Costs

German airline group Lufthansa has reported a 55% rise in underlying earnings to €1.8bn (£1.4bn), helped by lower fuel costs.

 

The increase comes despite a series of strikes by pilots and cabin crew over changes to working conditions, 

Lufthansa said it would resume dividend payments to shareholders and forecast slightly higher profits in 2016.

But it warned that competition from rivals would continue to put pressure on ticket prices.

Despite Profits Improvement, Lufthansa Airline Faces more cost-cuts

German airline Lufthansa, hit by a series of strikes, has warned that more cost-cutting is needed.

The carrier posted a net profit of €425m (£312m; $472m) in the last quarter, up from a €252m loss last year, helped by the falling oil price.

‘Naira Devaluation affecting Operations of Domestic Airlines’

Since the devaluation of the Naira,  domestic airlines have not really had it good with their operations.

This is because most of their transactions are dollar denominated leading to a situation where they are having to pay almost double for their transactions.