Lufthansa hits Q3 forecast despite slump in N Atlantic

Lufthansa reported quarterly operating earnings slightly above expectations yesterday and said the outlook for the fourth quarter was strong and demand set to improve, though bookings on the North Atlantic dragged on its further growth potential.

- JOANNA PLUCINSKA ILONA WISSENBACH

The tale of a Lufthansa passenger jet sticks out of an airplane hangar at Franz Josef Strauss airport in Munich, Germany. Lufthansa yesterday reported a fall in quarterly profits.

(AFP)

Shares were up over 5% in early trading on the back of the cautiously positive outlook.

This comes in the wake of the group’s promise of an ambitious turnaround plan, designed to cut costs and centralise operations across its complex multi-hub operation. It has also struggled to finalise a deal with unions to avoid a potential strike and recover its profits.

European airlines have largely dodged the substantial impact of a decline in travel from Europe to North America since US President Donald Trump won last year’s election.