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  "notes": "Page 038 from Lufthansa Group Annual Report 2025.",
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      "text": "Lufthansa Airlines is forging ahead with its turnaround programme, and this is having a substantial positive effect on operational stability.",
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      "text": "because some shipments were brought forward in the year to avoid impending new customs restrictions. The most recent US tariffs did not have a lasting impact on airfreight demand, but did cause a structural realignment of global supply patterns.",
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      "text": "Adjusted EBIT for the Passenger Airlines improved year-on-year in 2025 by 4% to EUR 1,087m (previous year: EUR 1,046m). Lower kerosene prices reduced the cost position, whereas slightly weaker yields held back revenue growth.",
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      "text": "Global airline industry expects earnings to increase. The global airline industry expects a year-on-year rise in earnings to new record levels in 2025, despite the increase in geopolitical tensions and trade wars.",
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      "text": "On a regional basis, the highest profits for the first time in more than a decade are expected for European airlines at USD 13bn (previous year: USD 9bn). North American airlines are forecast to generate net profits of USD 11bn (previous year: USD 11bn).",
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      "text": "MRO demand of USD 55bn is attributable to the EMEA region (Europe, Middle East and Africa) (previous year: USD 51bn), 41bn to the Americas region (previous year: USD 40bn) and USD 51bn to the APAC region (Asia/Pacific) (previous year: USD 47bn).",
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      "text": "The Passenger Airlines further increased its volume of traffic due to the continued high level of demand for air travel, and to holiday destinations in particular.",
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      "text": "Continued significant growth in MRO market. The aircraft maintenance, repair and overhaul (MRO) business once again performed well in 2025.",
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