By Joanna Plucinska and Ilona Wissenbach
LONDON, Nov 3 (Reuters) – German airline group Lufthansa on Tuesday trimmed its profit outlook due to higher jet fuel costs as it reported third quarter results broadly in line with expectations.
European carriers have warned the spiralling cost of jet fuel is set to weigh on their outlooks with ticket prices set to rise next year as hedges expire.
The company trimmed its operating profit forecast for the 2026 financial year to between €1.7 and 2 billion, compared to an earlier range of €1.7 to 2.2 billion.
It reported an operating profit of €1.4 billion ($1.57 billion)for its third quarter, compared to a company-compiled analyst projection of €1.37 billion.
“With rising revenues amid consistently high demand and strict cost discipline, we were able to more than offset the increase in fuel costs of approximately half a billion euros,” Chief Executive Carsten Spohr said in a statement.
Chief Financial Officer Till Streichert said the full-year operating profit will depend on demand, fuel costs and the performance of Lufthansa Cargo in the fourth quarter.
($1 = 0.8937 euros)
(Reporting by Joanna PlucinskaEditing by Linda Pasquini)
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