Lufthansa slumps into loss as economic crisis hits aviation sector

Lufthansa slumps into loss as economic crisis hits aviation sector Frankfurt - German airline Lufthansa AG reported Wednesday a 216 million euro (307 million dollar) net loss during the first half of the year after a sharp fall in revenue.

This loss compared to a 381-million-euro profit during the same period last year with airlines around the world having been badly hit by the economic downturn.

"The persistent economic crisis and its effects on demand, particularly in the premium segment, placed a considerable burden on the result," Lufthansa said in a statement.

The carrier said revenue tumbled by 15 per cent to 10.2 billion euros during the first half of the year.

But Lufthansa still expects to post an operating profit for the full year.

However, group operating profit came in at 8 billion euros during the first half compared to 677 million euros in the first six months of 2008.(dpa)