Deutsche Lufthansa lifts full-year outlook

Lufthansa late Wednesday raised its full-year earnings forecast, backtracking partially on a profit warning issued only 3 months ago. Adjusted earnings before interest and taxes this year are expected to be roughly on part with last year’s E1.8b (US$2b) level, the airline said. Lufthansa credited better-than-expected short-term business travel bookings in September. The reversal punctuates the high level of volatility European airlines are trying to manage. The revised outlook remains below the projection Lufthansa had given earlier in the year, when it promised investors a slight improvement in earnings this year. But in July, after terrorist attacks in Europe spooked travellers, Lufthansa warned profit could fall below 2015’s level. Lufthansa said measures it took to reduce capacity as well as other adjustments have been successful. <br/>