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Lufthansa reports slightly stronger-than-expected Q3 earnings

Lufthansa announced on Thursday that its quarterly operating results were slightly higher than expected. The airline has been struggling to reach an agreement with unions in order to avoid a possible strike and to recover its profits.

The group has promised an ambitious turnaround plan to cut costs and centralise its multihub operation.

The group posted a third quarter operating profit of 1,33 billion euros ($1.55billion), a little above the 1,32 billion euro forecast by LSEG's analysts. This is a 1% decrease from the same period last year when the group posted an operating profit worth 1.34 billion euro.

The company also confirmed that it expects its operating profit in 2025, or the earnings before taxes, interest and special items, will be substantially higher than last year's 1.6bn euros.

The European airline industry is typically at its strongest in the third quarter of the year, when the summer travel season is busy.

Carsten Spohr, Chief Executive of the company, said that despite the fact that we still have to work hard on improving the profitability of our airline and our core business in order to achieve our 2025 forecasts today. (Reporting and editing by Ludwig Burger and Joanna Plucinska; Kirsti Knolle, and Muralikumar Anantharaman).

(source: Reuters)