Lufthansa jumps back to profit as travel restrictions ease
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[BERLIN] Germany's Lufthansa posted a return to operating profit in the third quarter on Wednesday (Nov 3) for the first time since the beginning of the pandemic, boosted by the easing of Covid-19 travel restrictions and strong demand in the summer season.
The group reported adjusted earnings before interest and tax (Ebit) of 17 million euros (S$26.6 million) in the quarter, compared to a loss of about 1.3 billion euros a year ago.
Analysts in a company-provided poll had expected an adjusted Ebit loss of 33 million euros.
Third-quarter revenue almost doubled to 5.2 billion euros, compared to an average analyst forecast for 5.5 billion euros.
REUTERS
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