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Deutsche Lufthansa AG ranks upfront among the world’s leading airlines. As an Aviation Group, Lufthansa adheres firmly to economic and strategic criteria, focusing on the core competencies of its six business areas: passenger traffic, logistics, MRO, catering, leisure travel, and IT services. The Group attaches overriding importance to quality and innovation, safety and reliability. Lufthansa can look back on an eventful history. It has included many glorious moments but the course of events has not always been smooth. History is always a reflection of people and their times. The challenges facing air transport have become increasingly complex, yet Lufthansa has always found the strength to learn and renew itself. That ability has gained the company its lead position in the international airline business. Financial strength and business success have placed Lufthansa on a firm footing to emerge stronger from the consolidating air traffic industry in Europe . The Group raised capital expenditure during the year by more than 50 per cent, principally to modernise and expand the fleet. Following the integration of SWISS in the Group, Lufthansa is anticipating operating results in 2005 to be on a par with the previous year’s. There are not many employers like Lufthansa: Lufthansa is Europe 's most successful airline and one of the largest in the world. Round about 400 subsidiaries and associated companies belong to the Lufthansa aviation Group.