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Executive Overview:

Lufthansa is the largest airline in Europe in terms of passengers carried. By 2002, Lufthansa had become of the strongest airlines and top aviations groups in the world. Lufthansa had undergone a decade of fundamental change. Lufthansa was transformed from a state-owned, unprofitable national airline into one of the most profitable, privately owned aviation groups in the industry. The group turned a record loss of €350 million in 1992 into a pre-tax profit of €952 million in 2002. This financial result reflected Lufthansa’s major competitive advantage-its ability to respond rapidly, act flexibly, and withstand crises. Lufthansa proved its unique change management competence when it coped with September 11th, the most serious crisis in the airline industry since World War II. The aviation group pulled ahead of its competitors and reversed a loss of €744 million in 2001 into an operating profit of €718 million in 2002. In 2003, the war in Iraq and the......

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Approximate Word Count: 6297
Approximate Pages: 26 (250 words per double-spaced page)

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