LH Loses $204 mil EUR as Europe's economy Drags on..

Due to rising fuel prices, restructuring costs and sluggish business in the Middle East and Asia, Lufthansa has recorded a 204 million Euro loss in the first half of 2013. In the same period last year, the firm made a 50 million euro profit.
Nevertheless, the optimistic German airline is still anticipating meeting its profit goal for the entire year. Reuters reported a 27 percent drop in second-quarter profits, due to an increase in staffing costs. hill. During this period demand for flights remained low.
Even with 3,500 job cuts on going, Europe's second-largest airline far missed its 599 million euro consensus forecast for its second-quarter operating profit with just 431 million euros.Total revenue was 14.46 billion euros, a drop of 0.3 percent. Passenger numbers slipped 0.4 percent to 49.5 million.
Flight numbers were down 5.1 percent not solely on demand but due to the airline's more efficient capacity use. Low-fare airlines for long-haul services and within Europe have often outcompeted Lufthansa. However despite the loss, things are all going to plan.