Lufthansa says profits to slide again this year

BERLIN (AP) ? German airline Deutsche Lufthansa AG says it expects lower profits this year as high fuel prices and economic uncertainties weigh on earnings.

The company said Thursday its operating profit is expected to slide from euro820 million ($1.1 billion) in 2011 to a "mid three-figure million euro range" in 2012.

The forecast came as Lufthansa presented its full-year report, a week after announcing it made a 2011 net loss of euro13 million because of costs at its troubled British Midland International subsidiary.

In other details, Lufthansa says the contribution of its passenger business to the 2011 operating profit was down by 44.5 percent from euro629 million to euro361 million because of higher fuel costs and new air traffic taxes in Germany and Austria.

Source: http://news.yahoo.com/lufthansa-says-profits-slide-again-084344095.html

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