Qantas confirms its name as high flyer

AUSTRALIA’S Qantas Airways, buoyed

Meanwhile. Germany’s Lufthansa posted operating profits yesterday that beat analysts’ forecasts and lifted its share price, thanks to cost and capacity cuts made in response to the September 11-induced industry slump.

Another major airline suffering from the industry slump, Continental Airlines is implementing a series of revenue-generating and cost-saving initiatives that are designed to achieve pre-tax contributions in excess of $350m on an annual basis when fully implemented and $80m for the balance of 2002.