Lufthansa issues profit warning following recent terror attacks

Lufthansa warned that a series of terrorist attacks have caused passengers to scrap travel plans, leading to an expected decline in full-year earnings. The airline said Wednesday that advance bookings, especially on long-haul routes to Europe, “have declined significantly, in particular due to repeated terrorist attacks in Europe and to greater political and economic uncertainty” since it made its original financial projections in March. The company said its board “regards a complete recovery as not likely anymore.” Lufthansa earlier this year already pared capacity growth plans in response to economic headwinds, including weak Latin American demand. Lufthansa said Wednesday that it expected unit revenue in the July through December period to fall between 8% and 9%. <br/>