Lufthansa issues profits warning as Q2 earnings fall

(Sharecast News) - Deutsche Lufthansa on Friday slashed annual earnings estimates for a second time and also issued a profit warning as it struggled with higher costs and lower business demand. The German flag carrier said it expected adjusted 2024 operating profit of between €1.4bn - €1.8 billion, down from a previous target of about €2.2bn.

Adjusted operating profit fell by more than a third to €686m.

Shares in the airline were down 1.5%. The news hit other stocks in the sector, with British Airways-owner IAG, easyJet and Air France-KLM all lower.

Reporting by Frank Prenesti for Sharecast.com