Air Transport World

Lufthansa in slump. (Deutsche Lufthansa AG)

FRANKFURT--Deutsche Lufthansa is flying through a nasty patch of corporate financial turbulence. Just weeks after announcing record earnings for 1995, the heralded turnaround has soured with comparatively weak first-half estimates and more fiscal storms forecast. Final results won't be out until later this month but usually upbeat Chairman Jurgen Weber is the first to admit an "unsatisfactory" trend, and the first to promise vigorous corrective action.

Although astute juggling kept provisional first-half figures on the plus side of the ledger, projected pretax Lufthansa Group profits plummeted 47% to Dm100 million ($66.5 million) from Dm189 million a year earlier, and the company admitted it will be hard-pressed to meet 1996 business goals. …

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