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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.