The Financial Times reports that Lufthansa issued an upbeat view even as it posted a fall in profits for the third quarter.
It notes that shares in the airline dipped three per cent in early trading as it reported a 17 per cent decline in net profit of 1.18bn Euros, though last year’s figures for the same period were boosted by a one-off gain of 730m Euros from a labour deal. Jarrod Castle, analyst at UBS, attributed the early sell-off to investors taking profit.
The article reports that shares in Lufthansa are up 113 per cent since January, making it the best performer on the Dax this year.
The group which this month acquired more than half of bankrupt rival Air Berlin and is in the process of bidding for portions of Alitalia, confirmed that it expected adjusted operating profit this year to be above the record 1.74bn Euro set in 2016.