Lufthansa reports best ever results
Shares in Lufthansa Group, Germany's largest airline, were up over 3% yesterday after the company reported earnings before interest and tax of €3.3bn (£2.9bn) for 2017.
This represents a 45% increase on its 2016 performance and the company's best results in its history.
The increase in earnings included the positive €582m (£514m) one-off effect from a collective labour agreement with the pilots' union of Lufthansa, Lufthansa Cargo and Germanwings, which was recognised in the income statement in December, the company said.
Revenue increased by 12.4% year-on-year to €35.6bn (£31.4bn).
The company cited the strong performance of the group's airlines as a whole, according to financial statements released by Lufthansa.
During the year the group invested approximately €3bn (£2.6bn), around a third more than in the previous year.