Air Berlin's acquisition of LTU has proven to be costly, as the German LCC reported a steep drop in full-year profit to €11 million ($16.9 million) from the €50.1 million earned in 2006. "We are right on track with the LTU integration," CEO Joachim Hunold said yesterday as the carrier released preliminary financial figures. "Although the preliminary earnings for 2007 did not meet our expectations, we have reason to be optimistic for 2008." He said capacity utilization and unit ...

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