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Lufthansa expects profit boost by 2015

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Lufthansa expects profit boost by 2015

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Europe’s biggest airline by revenue, Lufthansa, has announced difficult economic circumstances and a major restructuring programme will limit operating profit growth for the rest of the year and into 2014.

Lufthansa is cutting 3.500 jobs, overhauling low-cost carrier Germanwings and updating its fleet.

The company hopes that the plan will bear fruit in 2015 with profits expected to hit 2.3 billion euros, compared to 524 million last year.