Management cut its full-year 2026 adjusted EBIT guidance to a range of €1.7 billion to €2.2 billion, down from a previous target of "well above" the 2025 result of €1.96 billion. Chief Financial Officer Till Streichert flagged continued uncertainty for the second half, citing a trend of customers booking closer to departure dates. Long-term targets, including an 8%–10% operating margin by 2028–2030, were left unchanged.
The group is accelerating cost reductions and pressing ahead with the integration of ITA Airways. Fuel prices have eased from their peak but remain volatile, and the second half will test whether yield improvements and cost discipline can close the gap created by the first-half fuel shock.
Can Lufthansa's premium-driven revenue momentum and structural cost program absorb persistent fuel volatility without further guidance cuts?
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