down
from €1 billion in 2010, but saw its net result collapse to a €13 million loss from
a €1.1 billion profit. The airline attributed the reversal to "current
losses at British Midland [bmi] and valuation effects linked to its
disposal." Lufthansa in November reached a deal to
sell bmi to British Airways parent IAG for up to £172.5 million, but a
Financial
Times report suggested the sale faces lengthy delays owing to a European
Commission decision to investigate competition concerns. The deteriorating
economic situation in Europe also looks likely to have contributed to
Lufthansa’s worsening figures.
Dow Jones
Newswire calculated that Lufthansa recorded a net loss of €301 million in
the fourth quarter of 2011, compared with a profit of €607 million in the year-earlier period.