The Lufthansa Group made an operating profit of €578 million in the first nine months of 2011, €34 million less than in the same period last year.
The figures represent a 5.6% drop in 2011 compared to 2010 for the airline group, whose members include Lufthansa, Bmi, Swiss, Austrian Airlines and Germanwings.
Christoph Franz, Lufthansa’s CEO, said the airline was looking for long term growth, and is currently “reviewing many options, including unpopular ones” to achieve this.
UK-based airline Bmi has been failing to make a profit over the past nine months, with operating results of minus €154million.
Reports suggest Lufthansa is keen to sell the loss-making airline, with rumours of British Airways and Virgin Atlantic as potential bidders.
Parent company the Lufthansa Group said business at Bmi had suffered “particularly badly” from the efffects of political turmoil in the Middle East and North Africa, areas where the airline has a strong presence.
“The weak economy in its British home market also depressed the result,” added Lufthansa in a financial statement.
Low cost carrier Germanwings also made a loss, of €23 million, in the first nine months of 2011, which was blamed on high fuel prices, but “above all” on Germany’s air traffic tax.
Austrian Airlines improved its financial results, but still made a loss of €34 million between January and September 2011.
Lufthansa and Swiss, however, made profits of €49 million and €244 million respectively over the period, for both a sign of some improvement on 2010.