Lufthansa strikes cost $264.4 million, no dividend for 2014
Al Masalla, ATP News- Lufthansa will not pay a dividend for 2014 after its full-year earnings were affected by the sale of the IT Infrastructure segment, an increase in pension liabilities and losses from fuel-hedging activities.
In addition, Lufthansa said pilot strikes in 2014 cost the company €232 million ($264.4 million); in November and December alone the strike actions cost €62 million.
Lufthansa reported a 2014 after-tax loss of €732 million, reversed from a profit of €407 in 2013. According to a company statement, it also posted an operating profit of €954 million for the year, against a target for €1 billion before the November and December strikes. Full-year revenue remained flat at €30 billion.
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