Higher jet fuel costs hit Lufthansa profit
Profit at German aviation group Lufthansa plunged in the second quarter, the firm said on Aug. 4, as higher jet fuel costs hit earnings.
Excluding one-off effects, core profit fell almost 56 percent to 383 million euros ($440 million), Lufthansa said, even as sales rose 10 percent to 11.1 billion euros in the three months to the end of June.
Higher fuel prices increased costs by about 750 million euros, the operator of the Swiss, Brussels, Eurowings and Lufthansa airlines said.
"The second quarter was characterized by exceptionally high fuel costs and heightened geopolitical uncertainty," Lufthansa chief financial officer Till Streichert said.
