Deutsche Lufthansa said today it expects to post a net profit in full-year 2004 after recording a net loss of €984 million in 2003, chairman Mr Wolfgang Mayrhuber said.
"We are confident that in 2004 we will be able to post a significantly better operating result as well as a positive net result," Mr Mayrhuber said at Lufthansa's annual results press conference.
The German airline generated sales of €15.95 billion in 2003, down 6 per cent from €16.97 billion in 2002. Analysts had forecast 2003 sales of €15.95 billion to €16.20 billion.
Lufthansa slightly revised preliminary financial results issued last month.
It said it recorded an operating profit of €36 million, down from a profit of €718 million in 2002, but up slightly on the preliminary estimate of €30 million.
The net result for 2003 plunged to a loss of €984 million from a profit of €717 million in 2002. Preliminary figures had recorded a net loss of €980 million for 2003.
As a result of the net loss, Lufthansa reiterated it does not intend to pay a dividend for 2003.