"The market conditions that forced European heavyweights Air France KLM and British Airways to warn of steep operating losses appear to have bypassed Germany, where Lufthansa yesterday raised its full-year operating profit projection to €1.3 billion ($1.66 billion) from the previous €1.1 billion. The carrier reported a €1.38 billion operating profit in 2007. Last month, BA said it expected to suffer a £150 million ($214.4 million) operating loss in its fiscal year ending March 31 and AF KLM projected a €200 million deficit in its fiscal third quarter ended Dec. 31 (ATWOnline, Jan. 27).
Yesterday, LH said the increase in its forecast is "substantially attributable to a more stable result development in the fourth quarter than was previously expected." It cited falling fuel prices and "favorable valuation effects" without elaborating. It warned, however, that the "market environment has evolved poorly" and that "further business development now is afflicted by significantly higher-than-usual risks." It is scheduled to release its full-year results on March 11."
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