Deutsche Lufthansa AG posted a net loss of €13 million last year, after taking a larger-than-expected charge on the sale of its British Midland unit.
A loss of €285 million from discontinued operations "reflects current losses at British Midland Ltd and valuation effects linked to its disposal," the German airline said in an unscheduled statement today.
Analysts on average had expected a full-year net profit of €324 million, according to Thomson Reuters, following a net profit of €1.1 billion a year earlier.
British Airways owner IAG in December agreed to buy Lufthansa's British Midland for £172.5 million in the race to grab the loss-making unit's coveted runway slots at London Heathrow.
The German flagship carrier also said it would pay a dividend of 25 cent per share, where analysts had expected 47 cent on average, as an exception to its dividend policy.
"This is intended to let shareholders participate in the successful operating performance in the reporting year in a way that is justifiable to the financial profile," the group said.
Reuters