Lufthansa reported on Wednesday evening a loss for Fiscal year 2011.
The primary reason for the loss was the cost associated with the sale of their BMI unit to IAG (Parent of British Airways and Iberia). The loss incurred for discontinued operations was reported at 285 million Euros.
The net loss attributable to shareholders came to 13 million Euros compared to a 1.1 billion Euro profit for 2010.
Not withstanding the losses from the BMI transaction, Lufthansa reported an operating profit of 820 million Euros, down from 967 million Euro for 2010, but beat analyst estimates by 9 million Euro for 2011.
On a positive note, Revenues did improve to 28.7 billion Euro as compared to 26.5 billion in Fiscal Year 2010.
Lufthansa’s board of directors has also proposed to pay a special dividend of .25 cents/Euro to shareholders inspite of the loss due to the positive operating profit.
Lufthansa shares trade in Europe and in the US. They are listed as an ADR on US markets (DLAKY).
