The group forecast its 2026 adjusted earnings before interest and tax (Ebit) would be 1.7 billion (US$2 billion) to 2.2 billion euros. It had previously projected adjusted Ebit well above the previous year\u2019s 1.96 billion euros.<\/p>\n
Shares dropped 8 per cent in early trade as investors focused on the uncertain outlook and worse-than-expected quarterly results, particularly rising unit costs.<\/p>\n
\u201cToday, we reflect on a challenging second quarter that was once again marked by multiple geopolitical crises and uncertainties,\u201d CEO Carsten Spohr said in a statement.<\/p>\n
\u201cDespite our further improvement in load factor and a significant increase in yield, we were unable to fully offset the considerable rise in fuel costs.\u201d The load factor is a measure of how full an airline\u2019s planes are.<\/p>\n
Capacity cuts<\/p>\n
The US war on Iran sent fuel prices surging when it began in late February. While they have eased back somewhat, they remain highly volatile amid uncertainty whether diplomatic efforts will succeed \u2013 creating a major headache for businesses<\/a>.<\/p>\n European airlines, including British Airways-owner IAG and Air France-KLM, have been hit hard by higher fuel costs<\/a> despite hedging programmes. Both have said they plan to trim capacity to help offset the impact.<\/p>\n Lufthansa said capacity fell about 3 per cent in Q2, partly due to strike days in April. However, its capacity plans for the full year remain unchanged and are expected to be broadly flat.<\/p>\n Adjusted Ebit fell to 383 million euros, from 870 million euros a year earlier, below analysts\u2019 average forecast of 401 million euros in a company-compiled consensus.<\/p>\n SEE ALSO<\/p>\n
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