Lufthansa cuts full-year profit target

Airline blames terror attacks in Europe and uncertainty
Uncertainty and terror attacks have forced Lufthansa to cut its full-year profit target. It now expects adjusted earnings before interest and tax to fall this year, correcting an earlier forecast of a slight rise on 2015.
Advance bookings to Europe have declined significantly due to “terrorist attacks in Europe and to greater political and economic uncertainty”, the airline said. IAG and easyJet have also warned about changes to profit forecasts.
Lufthansa Group’s preliminary results for the first half of 2016 have been revised downwards, as sales fell from €15.4 billion in H1 2015 to €15 billion this year. But first-half adjusted EBIT rose from €468 million last year to €529 million in H1 2016.
In related news, Lufthansa is in talks to buy about 40 of Air Berlin’s 150 aircraft, including crews, according to media reports.


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