Lufthansa faces nearly $2 billion in extra fuel costs amid Middle East conflict

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Germany’s largest airline, Lufthansa

reported taking on 1.7 billion euros (nearly $2 billion) in additional fuel costs as the Middle East conflict poses “enormous challenges.”

In its first-quarter earnings published Wednesday, the airline said it had hedged 80% of its jet fuel, it expects to take on additional costs of 1.7 billion euros in 2026, which it plans to offset via cost-saving measures and increased revenue from ticket sales.

Lufthansa saw its first-quarter adjusted EBIT increase to 612 million euros, while revenue rose to 8.7 billion euros ($10.2 billion), up 8% from 8.1 billion euros last year.