On Friday, Lufthansa lowered its operating profit forecast for fiscal 2024, citing a recent drop in passenger traffic in Asia.

The German airline now expects adjusted earnings before interest and taxes (Ebit) of between €1.4 and €1.8 billion this year, compared with its previous target of around €2.2 billion.

Its free cash flow is now expected to be well below the €1 billion mark in 2024, compared with its previous forecast of 'at least' €1 billion.

Following these adjustments, Lufthansa shares on the Frankfurt stock exchange lost around 2% on Friday afternoon.

Lufthansa, which also reported provisional results for the second quarter, said it had generated adjusted Ebit of 686 million euros, compared with a profit of 1.1 billion euros a year earlier.

Lufthansa's profit warning follows one issued by Air France-KLM earlier this month, and disappointing forecasts from US-based Delta yesterday.

The company expects to publish its final second-quarter results on July 31.

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