Air Transport World

Lufthansa Group.(1998 financial results)(Brief Article)

Lufthansa Group said 1998 produced its best-ever results, with pretax profits lip by Dm700 million to Dm2.4 billion ($1.3 billion). Included were hook profits of Dm377 million from the sale of its stake in Hapag Lloyd. Group revenues rose 4.6% to Dm22.6 billion.

Lufthansa said the improvement in operating results "in a worldwide market troubled by currency and economic crises" stemmed largely from increases in capacity utilization, allied with sustained cost-cutting.

The company embarked on a 5-year corporate strategy to evolve increasingly into a broadly structured aviation group--with commensurately less priority given to its traditional primary business as a passenger airline. …

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