Lufthansa Group widens outlook range as profits slump in second quarter

The Lufthansa Group has announced a revised profit forecast for the full year, now projecting earnings between €1.7 billion and €2.2 billion ($1.95-$2.53 billion). This adjustment reflects significant challenges stemming from increased risks and diminished visibility within the aviation sector. Higher fuel costs and strike expenses have substantially impacted the group’s second-quarter adjusted EBIT, more than halving it. Consequently, profitability in the second quarter experienced a slump, necessitating this broadened outlook range. Uncertainty remains high due to ongoing market conditions affecting the airline's financial performance.