Lufthansa core profit falls 56% on fuel costs

Lufthansa said Tuesday that its second-quarter core profit fell almost 56% to 383 million euros, or $440 million, as higher jet fuel costs hit earnings.

The German aviation group said sales rose 10% to 11.1 billion euros in the three months to the end of June. Higher fuel prices increased costs by about 750 million euros, according to the company, which operates Lufthansa, Swiss, Brussels Airlines and Eurowings.

Chief financial officer Till Streichert said the quarter was marked by high fuel costs and geopolitical uncertainty. He said the company expected strategy execution, cost discipline, network changes and strong demand to offset a significant part of the cost increases.

Lufthansa also changed its full-year outlook, saying it now expects 2026 core profit of between 1.7 billion and 2.2 billion euros. It had previously expected core profit to be significantly above last year's 1.96 billion euros.