2024-07-13 03:45:51
The second quarter was mediocre for the Lufthansa Group. There are problems especially in the passenger business, which has consequences.
Deutsche Lufthansa has had to make significant cuts to its profit forecast. Instead of the expected 2.2 billion euros, the airline will only achieve an adjusted earnings before interest and taxes (EBIT) of 1.4 to 1.8 billion euros this year, it announced on Friday.
In the first half of the year, profits fell by more than a third to 686 million euros (previous year: 1.1 billion euros). The airline explained that this was primarily due to the situation in the passenger business of Lufthansa and its subsidiary Cityline.
“A balanced full-year result is becoming increasingly challenging for Lufthansa Airlines,” the statement said. In the first half of the year, the division slipped into the red with a profit of 427 million euros (previous year: profit of 149 million euros). “To counteract this, an extensive turnaround program is being launched.” Lufthansa shares fell 2.9 percent after the profit warning.