Lufthansa reported net profit of nearly €1.3 billion for the third quarter, up 30% from a year earlier, even as its fuel costs increased by more than €500 million. The airline said higher ticket prices and strong business in maintenance and cargo helped offset the rise in kerosene prices. One-off items also contributed to the result.
Adjusted operating profit, which excludes special items, increased 6% to more than €1.4 billion, beating analysts’ average expectations. For the full year, however, Lufthansa now expects its fuel bill to reach €9.3 billion, €600 million more than it forecast in the summer.
The group cut its 2026 adjusted operating profit outlook to between €1.7 billion and €2.0 billion, from a previous range of €1.7 billion to €2.2 billion. Chief executive Carsten Spohr had already lowered the target in August. The company now expects profit to fall from the nearly €2 billion reported for 2025.
Chief financial officer Till Streichert said where earnings land within the forecast range will depend on fuel costs, demand and the performance of Lufthansa Cargo in the fourth quarter. The cargo subsidiary typically handles a larger share of its business toward the end of the year.
Sources: Handelsblatt.