Lufthansa Books $1.5 Billion Profit

Lufthansa said it made a $1.5 billion net profit in 2010 compared with a year-earlier loss of $47 million, bolstered by a one-off tax gain of $556 million and record operating profit for Lufthansa Cargo.

The German airline's operating profit soared more than six-fold to $1.2 billion from $181 million in 2009 "despite adverse one off factors" as revenue rose to $37.9 billion from $31 billion.

By The Numbers: International Air Freight Industry

Lufthansa said it will publish a full financial report for the year on March 17.

Lufthansa Cargo, the all cargo unit, booked a record operating profit of around $315 million in the first nine months of the year compared with a year-earlier loss of $276 million as revenue grew 45 percent to $2.8 billion.

-- Contact Bruce Barnard at brucebarnard47@hotmail.com.