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Lufthansa, Aer Lingus Feel Pinch

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Lufthansa sees profit drop 599 million euros in 2008, compared to 1.66 billion euros in 2007. 2007 sales were inflated by 500 million euros in asset sales. 2008 sales also reflect awritedown on the stake in Jet Blue Airways of the USA. Sales rose 11% to 24.87 billion euros, boosted by consolidation of Swiss International. Lufthansa plans to takeover Austrian Airlines, increase its holding in BMI, and acquire astake in SN holding, the parent company of Brussels Airlines.

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