Lufthansa fears oil cost rises

German airline Lufthansa yesterday said a sharp rise in fuel costs could hurt its profits, although economic recovery should boost the airline's revenues and operating profit this year and next. In its full-year financial report, Lufthansa said it had swung to a 2010 net profit of €1.1bn (£956m),boosted by a €400m one-off tax effect. “2011 will not be a walk in the park,” chief executive Christoph Franz said in a statement.