BUSINESS
10/27/2011 03:15 EDT | Updated 12/26/2011 05:12 EST

Lufthansa 3rd-quarter earnings down 21 per cent amid economic uncertainty

BERLIN - Germany's biggest airline, Deutsche Lufthansa AG, says its third-quarter earnings dropped by 21 per cent amid global economic uncertainty and high fuel prices.

Lufthansa on Thursday reported net earnings of €494 million ($687 million) for the July-September period — down from €628 million a year earlier.

The group's revenue rose to €8.08 billion from €7.57 billion — an increase of 6.7 per cent.

Lufthansa already issued a profit warning last month, blaming a disappointing performance in August, deteriorating booking forecasts for the airline industry and wider economic uncertainty. It stuck to the revised full-year outlook it gave then.

The Lufthansa group includes Swiss International Airlines, Austrian Airlines, budget offshoot Germanwings and Britain's BMI.