Lufthansa Group has issued a profit warning, lowering its full-year guidance due to a significant slide in earnings.
The German international carrier reported a preliminary Adjusted EBIT of €686 million in the second quarter, down sharply from €1.1 billion the previous year.
This decrease was primarily driven by a market-related decline in yields across all traffic regions, particularly in Asia.
"Lufthansa Airlines is particularly affected by the challenges posed by the negative market trend and by inefficiencies in the flight operations of Lufthansa and Cityline, also due to delayed aircraft delivery," said the company.
For the full year 2024, Lufthansa now anticipates an Adjusted EBIT in the range of €1.4 billion to €1.8 billion, significantly lower than the previous forecast of around €2.2 billion.
"It is becoming increasingly challenging for Lufthansa Airlines to break even for the full year," the company noted.
Shares were down 0.6% following the announcement.