Lufthansa AG reported an operating profit of €114 million for the first six months of 2014, an improvement of €41 million on the €73 million of the same period last year.

Lufthansa Technik achieved a first-half operating profit of €206 million, only €13 million below the high level of the prior-year period.

Total group revenue for the period amounted to €14.2 billion, a decline of just under 2.1 per cent. Adjusted to exclude non-recurring expenditure totalling some €105 million – for such actions as the accelerated installation of the new Lufthansa Business Class seating and provisions relating to the Score programme – the first-half operating result amounted to €219 million, a €75 million year-on-year improvement.

The prime reasons for the improved result were the positive impact of the new depreciation policy for aircraft and spare engines, which was adopted at the beginning of the year, and the enhanced cost structures in the passenger business segment.

“For the full year 2014, we are confirming our profit guidance, despite the unusual adverse developments in the second quarter. This quarterly performance was shaped by a number of one-off effects, such as strikes and currency devaluations. At the same time we have presented a comprehensive work programme with quality, growth and innovation initiatives, which we will drive forward with great determination,” said Simone Menne, chief officer finance & aviation services of Deutsche Lufthansa AG.