Notes to the individual financial statements for Deutsche Lufthansa AG (HGB)

• For the first time the management report for Deutsche Lufthansa AG has been combined with the Group management report.
• Deutsche Lufthansa AG reported an increase in revenue in 2011.
• Performance indicators were well below those for the previous year.
• The net loss for the year was EUR 116m.
• It was influenced hugely by the effect of the current losses and the disposal valuation for bmi.
• Cash flow from operating activities was also down on the year.
• Total assets were reduced again.

The financial statements for Deutsche Lufthansa AG have been prepared in accordance with the German Commercial Code (HGB) and the supplementary provisions of the German Stock Corporation Act (AktG) as well as the transitional provisions of the German Accounting Law Modernisation Act (BilMoG) that are still in force, and have been audited by PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft, Dusseldorf. They are published in the electronic Federal Gazette. The financial statements are permanently available on the internet from www.lufthansa.com/investor-relations and a printed copy can be ordered from Deutsche Lufthansa AG.

In this annual report the management report for Deutsche Lufthansa AG has been combined with the Group management report for the Lufthansa Group. Deutsche Lufthansa AG and its results also include the Group headquarters with the central functions for Corporate Development, Finance and Controlling, Communications, Public Affairs, Human Resources, Legal and Compliance, Data Security, IT, Safety and Procurement. The economic environment for Deutsche Lufthansa AG is essentially the same as for the Group and is described in detail in the section “Economic environment and course of business”.