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Germany's leading airline Lufthansa, following the results of the fourth quarter, reported on the fall in net profit by 38.7% in annual terms to 343 million euros. Its revenue in the amount of 8 billion 950 million euros showed an annual growth of 6%. According to the 2018 report, the company received a net profit of 2 billion 163 million euros, which is 8% less than in 2017. Revenues amounted to 35 billion 844 million euros, an increase of 1%. EBIT, which does not include one-time expenses, was reduced by 4% to 2 billion 836 million euros. The main reasons for the decline in profits are the increase in fuel costs and lower prices for air tickets. The company increased its fuel costs by 850 million euros. Its costs as a result of delays and cancellations of flights increased over the year by 518 million euros.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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