Despite higher traffic, the operating result for the Passenger Airline Group was well down on the previous year. The segment generated an operating profit of EUR 349m, compared with a profit of EUR 629m in the previous year, after adjustment for bmi. The steepest fall in earnings was felt by Lufthansa Passenger Airlines, but SWISS could not match the previous year’s strong figure either.
Austrian Airlines and Germanwings made negative earnings contributions, as in the previous year. Comments on the earnings of the individual airlines can be found in the following sections.
Other segment income of EUR 151m (previous year: EUR 233m) was attributable above all to book gains on the disposal of non-current assets of EUR 33m and income from write-backs of provisions of EUR 114m (EUR 179m). Other segment expenses came to EUR 111m. Total impairment losses of EUR 57m were incurred on two Boeing 747-400s, two Airbus A340-300s, twelve B737-500s and two A330-200s, which have been decommissioned or are held for disposal. Other segment expenses also include impairment charges of EUR 21m on aircraft and repairable spare parts for aircraft, which are shown in the balance sheet under assets held for sale.
The result of the equity valuation of EUR –34m (previous year: EUR –10m) relates particularly to SN Airholding (EUR –38m) and SunExpress (EUR 2m). The segment result fell overall by EUR 409m to EUR 355m.