Lufthansa Drops as Fare Pressure Looms Amid Cost-Cut Battle
Lufthansa shares fell as much as 4.3 percent, the steepest intraday drop since April 27, even after the carrier raised its 2017 operating profit forecast to gradually catch up with analyst estimates. While first-half earnings almost doubled on stronger traffic, investors focused on the airline‘s lingering need to confront lower-cost rivals as it said ticket prices will decline.
„We remain concerned that Lufthansa is not making sufficient progress in improving competitiveness in its core businesses,“ Gerald Khoo, a London-based analyst at Liberum, said in a report to clients.
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