Lufthansa reports 2009 net loss of US$151 million

Lufthansa has reported a net loss of US$151 million in 2009, but said it achieved its goal of an operating profit. The loss, which followed a $732 million profit in 2008, was largely the result of sharply lower cargo volumes and a decline in higher paying premium passengers. Operating profit plunged 90 per cent to a better-than-expected $175.5 million from $1.76 billion a year ago on revenue down 10 per cent at $30.1 billion.

Lufthansa is currently in negotiations with the pilots' trade union over job security and wages in a bid to head off a strike by its 4,000 members. Pilots called off a four-day strike at Lufthansa, Lufthansa Cargo and the low cost carrier Germanwings after one day's stoppage last week, but the deadline for an agreement expires March 8.