German national airline Lufthansa has revealed a huge increase in profits over 2007, reaping the benefits of a successful takeover and increasing popularity of its flight routes.
Net profit for 2007 was claimed to have doubled on the previous year, making last year a record one for Europe’s second-largest airline and confirming the benefits of its takeover of fellow national carrier Swiss.
The unusual move was greeted with some scepticism, but now looks to have paid off: combined group traffic surged 30 per cent in January from a year previously, with collective passenger demand for European, American, Middle Eastern and African destinations growing fast.
A group total of 62.9 million passengers were handled over the year, but the popularity of long-haul flight routes with premium passengers was also seen to have contributed greatly to Lufthansa’s growth.
Another factor contributing to the firm’s record year was the sale of its stake in tourism group Thomas Cook for a gain of €503 million (£379 million), with full financial figures set for release on March 12th.