Year-end figures from Lufthansa lived up to expectations as the group added DM1 billion ($545 million) to pre-tax profits, taking the total to DM1.6 billion. The improvement was backed by an 11% rise in sales on long haul passenger markets, and a record 73.5% load factor as the airline and the German economy recovered from the 1996 downturn. The group also booked a DM217 million gain on the sale of its stake in the Amadeus reservation system, with another DM377 million to come this year from the disposal of its share in the Hapag Lloyd tourist business which went through earlier this month.
Source: Flight International