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Lufthansa profits up on lower costs

Associated Press Associated Press 2/08/2016

German airline Lufthansa saw its net profit fall for the first six months of the year, mainly due to a large one-off boost to earnings in the year-earlier period.

But the airline said earnings improved once such one-time effects were excluded, thanks to cost discipline and lower fuel prices.

The company repeated its earlier warning that terrorism fears would weigh on bookings and profits in the second half of the year.

Net profit was 429 million euros ($A635.56 million), compared with 954 million euros in the year-earlier period, when profits were boosted by 503 million euros through the early conversion of a convertible bond.

Adjusted earnings before interest and taxes - the company's usual profit gauge - rose 61 million euros, to 529 million euros.

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