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FX rates dog Lufthansa sales - CFO

Thursday, Oct 31, 2013 - 04:36

Oct. 31 - Lufthansa CFO Simone Menne gives us her take on the company’s Q3 results, just weeks after she warned that fierce competition and adverse FX rates were likely to hit the bottom line.

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-- than a hundred passenger business grew more celebrity in the Fed quartet. Cost cuts any partly offsetting negative negative tax rates and CS competition. Harriet CFOs and when Amanda joins me now -- iron from front fat thank you for joining us. How does appointed you by the slamming profit growth that you see that you passenger business. -- -- and -- well we are not disappointed created but did the current impact hit we I have to admit. He's he's strong program that you know cost development. Solid unit caught dead wearing it down. More of them is that revenue -- it is so we are not too disappointed. It couldn't be better without the currency. If and how much longer do you think you're likely to see the impact of that the weaker yen and VP for example. What we expect that to continue for the -- quartet. I'm -- you mentioned your big restructuring program that. Really it looks like second -- it's failed to -- and to deliver substantial improvements on the ball to not -- A vehicles last week's 2015 profit I don't know Quinn sat and -- expectations. Other any condemnations by accelerating school especially given the continuing weakness in the European economy. Well we are -- any -- that set aside with solid core program. And that we see honestly Ed development. Cognitive development book and the bottom line. It is difficult to see that effect -- -- -- we had a lot of all if fact. And we. Would go to hiding in the year impact -- bar but if you take that out. We have an improvement. Over all of 277. Million. Well the whole nine mom and a football million compared to not look at twelve. No way that we got any happy with. Now we turn our attention to some regular low cost competitors by an affixed on -- has been talking about increasing its customer service. So it can attract more business customers how much of a trip -- shooting matches for you. Well. We are bad happening Betty good productive without -- generally -- -- -- that copy of his aunt Betty that is side. With a diversified. Quote we all -- In offering him Walt called quick service that go so low hook is that a product that it is caught in this. And -- we we feel Betty Betty Jung here and positioned quite well. I AG for example as them being quite vocal about the state subsidies fell on the Tanya. -- -- -- are likely to complain today you abide state takes from the Tanya. We expect the European Union state of the rule book subsidies then. We -- to work CIA except an. Eight and from that policy which is agreed to pump. And finally do you -- we're likely to see some more consolidations of -- at and -- in your weapon and what would look tons his role be in that. We want to have a strong position in complicating. The market I expect that the market in Europe it will consolidate. There are too many players in the pocket at the moment. And so we want to proactively. After playing a role in Europe in future being the strongest ally in here we feel that the positions -- And you think that you're could end up looking a little bit more like the US sin and not -- Well ahead we are expecting that to go late the market in Europe should look stimulus to that you act. And we don't expect that it takes longer as we do not have. That means they'll EG EG emerges in that you're up today area. Because of regulations. And we also don't have that the instrument of up to eleven. So I don't expect to -- being so far and it has been in the US. Let's -- if -- be keeping our eye on that be at nine and an industry in Europe thanks for joining us. -- hit and I my highest enough time to -- amana. I'm John a partridge that's his voice has.

FX rates dog Lufthansa sales - CFO

Thursday, Oct 31, 2013 - 04:36

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