Lufthansa says Iran war lifts 2026 fuel bill by €2bn

Lufthansa said Tuesday that it expects its 2026 fuel bill to reach 9.3 billion euros, or about $10.4 billion, 2 billion euros higher than last year as the Iran war keeps global energy prices elevated.

The German airline group said the forecast is 600 million euros higher than it had expected a few months ago. It also lowered its 2026 core profit forecast to between 1.7 billion and 2.0 billion euros, from an earlier range of 1.7 billion to 2.2 billion euros.

Lufthansa, which also operates Swiss, Brussels and Eurowings, reported net profit of 1.26 billion euros for the July-September quarter, up 30 percent from a year earlier. Revenue rose 9 percent to 12.2 billion euros.

The company said fuel costs were more than 500 million euros higher in the quarter than a year earlier. Chief financial officer Till Streichert said the result improved despite higher fuel costs and was supported by robust passenger demand.