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Lufthansa Group 9-month Adj. EBIT Rises

Lufthansa Group (DLAKF, DLAKY) reported that its adjusted EBIT for the first nine months of 2017 increased to 2.560 billion euros from the prior-year's 1.677 billion euros.

Net profit for the first nine months of 2017 amounted to 1.853 billion euros, broadly in line with a prior-year result that had felt the 713 million euros positive impact of certain non-recurring items.

The good nine-month result was attributable primarily to continuing positive business trends at the Group's airlines. Despite increasing overall capacity for the period by 11.7 per cent, the Group's air carriers improved their aggregate nine-month seat load factor by 2.1 percentage points.

Total revenues for the first nine months of the year grew by 12.1 percent to 26.76 billion euros from 23.87 billion euros. Traffic revenues rose 14.4 percent to 21.36 billion euros from the previous year.

Fourth-quarter unit revenues are expected to increase slightly on organic capacity growth of 5.5-per-cent. The financial burden of 100 million euros resulting from strikes in the fourth quarter of last year will not recur.

The Group expects to see a fourth-quarter slight reduction in unit costs excluding fuel and currency effects at its passenger airlines. Fuel costs, including Brussels Airlines, are expected to amount to circa 5.3 billion euros this year. This reflected a cost increase of about EUR 50 million in the fourth quarter (excluding Brussels Airlines). Aviation Services are expected to report an Adjusted EBIT for the year that is broadly on par with its 2016 level.

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