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Upgradeable fares on Lufthansa

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Hi all,

Please excuse my ignorance but we recently booked an airfare on Lufthansa and the travel confirmation says 'upgradeable fare'. What exactly does this mean? That we can use our points to upgrade? Does this not apply to all fares? Madly curious, it is rare when we book fares to see something that sounds so tantalising!

Lavandula

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