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Business

Germanwings Speeds Ahead

The two-year-old low-cost airline Germanwings announced in Cologne Thursday that it expected to have increased its turnover by more than 60 percent to reach €245 million ($334 million) in 2004, posting its first ever profits. Passenger figures rose 46 percent to 3.5 million while the number of Germanwings' staff rose to 459. "With figures like these, we belong among Germany's most successful companies in 2004," said CEO Joachim Klein. "We managed to withstand the widespread pessimism in the country -- our success shows that courage and a good idea can effect change even when times are tough." The airline, a subsidiary of Eurowings, hopes to continue its winning streak in 2005 and break through the magic five million passengers barrier. It also plans a third German hub for its 15-plane fleet.

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