Saturday 18 November 2017

Lufthansa says profits will fall this year over ticket pressure

Aircrafts of German carrier Lufthansa stand on the tarmac at the Frankfurt am Main airport, Germany
Aircrafts of German carrier Lufthansa stand on the tarmac at the Frankfurt am Main airport, Germany

Victoria Bryan

Lufthansa expects its profit to fall slightly this year due to pressure on ticket revenues and an increasing fuel bill, it said on Thursday after reporting annual results in line with expectations.

The carrier said it expected 2017 adjusted earnings before interest and tax to be slightly lower than the 1.75 billion euros ($1.88 billion) reported for 2016.

Lufthansa expects its fuel bill to increase by about 350 million euros this year to 5.2bn, and said efforts to reduce costs would not be enough to offset the rising fuel bill and pressure on ticket prices.

Reuters

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