Lufthansa Group reported a net loss of €216 million (US$303 million) for the six months ended 30 June

, reversing the €381 million profit achieved in the month earlier period. The Passenger Airline segment result was €66 million (US$93 million) versus €362 million (US$535 million), dragged down by weaker demand and business travelers shifting to "cheaper booking classes." Lufthansa noted that "both the tendency for companies to be restrained about business travel and the structural change in travel behavior persisted into the second quarter of 2009." To improve performance of the Passenger Airline segment, the company announced a target to improve results by "by €1 billion (US$1.4 billion) by the end of 2011; thereby, the focus will lie on cutting costs." Details will be announced in "the upcoming weeks."