Lufthansa services from Bangalore

By Our Special Correspondent

BANGALORE, SEPT. 3. Lufthansa today officially announced the start of its thrice-weekly non-stop Airbus A340-300 service between Bangalore and Frankfurt. Bangalore is Lufthansa's fourth destination in India and it is the first European airline to provide passenger services connecting India's software powerhouse to Europe and the Americas, through its Frankfurt hub.

The service is the result of successful bilateral talks between the Indian and German governments in February. The agreement also plans for an increase of two frequencies to Mumbai next year and another two frequencies to Chennai by 2003.

Mr. Manfred Reimer, Vice President, Asia and Pacific, said despite a difficult market environment, Lufthansa had a successful half year in 2001. Revenues were up at a double-digit rate (13.7 per cent) and with an operating profit of 105 million Euros, the group ranked among the top in the industry. The group stood by its targeted full year operating profit of between 700 and 750 million Euros, provided economic conditions improved in the fourth quarter and remained stable. That would be a crucial factor, especially in business development at Lufthansa Cargo.The cargo division had withdrawn capacities equivalent to two Boeing 747 freighters and in the passenger business, the airline was cutting back on growth plans on inter-continental routes, discontinuing unprofitable services and deploying smaller aircraft in specific North Atlantic routes. These measures were to strengthen its competitiveness and profitability.

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Section  : Business
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