Financial performance

Increasing protectionism and the resulting trade tensions, declines in industrial production and geopolitical tensions left their mark on air traffic as well. Although air traffic increased worldwide in 2019, growth in Europe and especially in Germany weakened slightly compared with the previous year, especially in the second half of the year.

Nevertheless, total operating revenues and income were slightly higher than in the previous year. Group earnings were in positive territory – despite noticeably higher expenses – due to the strong financial result in connection with investment performance. Total operating revenues and income amounted to €1,181.1 million (2018: €1,177.9 million) and net income was €35.6 million (2018: net loss of €30.7 million).

The commercial business contributed €91 million to the total operating revenues and income figure.