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CITY & FINANCE: Big three `will ride out storm'.

Publication: Travel Trade Gazette UK & Ireland
Publication Date: 07-AUG-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: CITY & FINANCE: Big three `will ride out storm'.(Air France KLM S.A., British Airways PLC and Deutsche Lufthansa AG)

Article Excerpt
Europe's three largest network carriers unveiled `breathtaking' drops in profitability for the second quarter of the year as the recession hit them even harder than the collapse after 9/11. But analysts believe they will emerge from the slump more competitively placed than before. Chris Gray reports

The figures are staggering. Air France-KLM lost an average of #4.7 million every day between April and June this year. And British Airways saw #1.6 million evaporate every 24 hours.

Lufthansa was the only one of Europe's big three to stay in the black, reaping #480,000 each day. However, last year its daily profits...



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