Lufthansa Group delivered a first-half net profit of €954 million ($1.04 billion), reversed from a loss of €79 million a year ago. The German carrier noted that more than half of the net profit— €503 million—was “attributable to an accounting effect resulting from the appreciation in equity capital ... following the redemption of the JetBlue convertible bond in the first quarter.” Even allowing for this, however, the Group—which includes ...

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