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DLH_Balance_2016_ENG - Fleet development

In 2015, the Lufthansa Group consistently pursued the optimization of its fleet and put 17 aircraft into service, among them nine long-haul aircraft. Thus the Group fleet consisted of 600 aircraft on December 31, 2015, with an average age of 11.8 years (see table, page 33). The fleet is the larg- est asset in the Company’s balance sheet. The majority of aircraft are financially unencumbered and in the Lufthansa Group’s full possession. Fleet development The Lufthansa Group maintains its course in the largest fleet modernization and renewal program in Company history. An up-to-date and well structured fleet is not only the foundation for economic success in an environment with intense competition. Modern aircraft also increase comfort levels for passen- gers and contribute to limiting the environmental effects of flying. The decisions taken concerning fleet devel- opment over the past years mean that the Group continuously invests in new technol- ogies, efficiency and customer comfort. The fundamental renewal of the fleet ensures that the Lufthansa Group will continue to offer leading product quality with ongoing service improvements – and fly ever more efficiently and quietly as well. In 2016 and in subsequent years the Company will invest 2.5 billion euros annually to this end, primarily in new aircraft. The Lufthansa Group’s current order list comprises a total of 251 latest-generation aircraft valued at about 40 billion euros at list prices (as per January 2016). The 69 long-haul and 182 short-haul aircraft are to be delivered by 2025 and will primarily replace older models. The Lufthansa Group continuously invests in modern and particularly fuel-efficient aircraft. Sustainability Report Balance // Issue 2016 // Lufthansa Group // 29

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