Profit Down: Lufthansa has reported tumbling net profits in the second quarter saying higher operating costs and a European short haul price war ate into the bottom line - AFP
FRANKFURT: Deutsche Lufthansa AG said threats to its financial outlook are mounting after a fare war and stuttering global economy dented second quarter-earnings, adding to the gloom surrounding Europe’s airline industry.
Lufthansa warned yesterday that the fight for market share means business trends could deteriorate further in the second half, sending the stock down 7.4% even as the group stood by reduced full-year profit guidance issued last month.
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