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. Last Updated: 07/27/2016

Lufthansa Profits Soar

FRANKFURT, Germany -- Posting a third consecutive record-breaking quarter, the German flagship air carrier Deutsche Lufthansa reported Wednesday that pretax profits more than doubled in the first nine months of the year.

The airline said pretax profits were 975 million Deutsche marks ($560 million) in the first three quarters of 1997, compared with 434 million marks during the same period in 1996.

Based on those results, Chief Financial Officer Klaus Schlede forecast a full year profit 20 percent to 40 percent above 1996, when Lufthansa posted net profit of 558.1 million marks.