Revenue and earnings

While operating income overall rose by 9.8 per cent, operating expenses increased disproportionately by 12.6 per cent. That is why the result from operating activities shown in the income statement fell year on year by EUR 399m to EUR –169m (previous year: EUR 230m). After adjusting both financial years for various and highly varied extraordinary effects included in the result – mainly from additions to provisions for impending losses in connection with the upcoming sale of bmi, write-backs on financial investments, write-back of provisions, losses on disposal of assets and other special effects – earnings fell by just EUR 40m.

Total revenue went up by 12.2 per cent to EUR 15.5bn. The reason for the increase was higher traffic revenue, which rose by 12.2 per cent to EUR 15.2bn. Other operating income reported a decline to EUR 1.8bn (previous year: EUR 2.0bn). This stems from the smaller write-up on the carrying amount for LSG Lufthansa Service Holding AG, lower book gains from asset disposals and reduced currency gains from changes in exchange rates between origination and realisation and the rates applied at the reporting date. The effect is mitigated by higher leasing income and greater compensation for damages in particular.

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