Lufthansa significantly boosts revenue, makes operating profit
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GERMANY'S Lufthansa returned to profitability in the second quarter, reporting that its revenue had more than doubled compared with the year before.
Group revenue was around 8.5 billion euros (S$12 billion) in the quarter, compared with 3.2 billion euros the same period last year, according to preliminary figures released on Friday (Jul 15).
"The Group benefited from a continuously strong performance at Lufthansa Cargo," the airline said in a statement.
Adjusted cash flow was reported at around 2 billion euros, boosted by strong demand for bookings and operating profit, it said, adding that net debt is expected to have fallen by a similar amount in the second quarter.
Adjusted earnings (EBIT) were between 350 and 400 million euros, compared with a loss of 827 million euros a year earlier, Lufthansa said. REUTERS
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