Lufthansa and Air France cheer

Lufthansa will widen its cost-cutting drive to counter rising fuel prices and sluggish growth in its core market, the German airline said yesterday as it reported third-quarter operating profit of €648m. The rise beat forecasts, sending its shares seven per cent higher. Air France-KLM saw its shares jump eight per cent after the Franco-Dutch carrier also beat estimates with a 27 per cent rise in operating profit to €506m.