Pursuits
Air France, Lufthansa Earnings Trump Estimates on Cost Cuts
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Air France-KLM Group and Deutsche Lufthansa AG posted earnings gains that beat analyst estimates as Europe’s two biggest airlines began to reap the benefits of moves to eliminate thousands of jobs. Their shares surged.
Third-quarter operating profit jumped 27 percent to 506 million euros ($656 million) at Air France-KLM, where analysts had predicted 434 million euros, and 6.2 percent to 648 million euros at Lufthansa, exceeding a 522 million-euro forecast.