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German airline Lufthansa on Tuesday posted a decline in second-quarter earnings, hurt by price competition on short-haul routes in Germany and Austria as well as rising fuel costs.
The company said in a statement that adjusted earnings before interest and tax (ebit) fell to €754 million, compared to €1 billion a year earlier.
Fuel costs were €255 million higher than in the previous year, it said.
Lufthansa said it expected the European market to remain challenging until at least the end of this year.
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The company maintained its guidance for 2019, having in June cut its full-year profit forecast due to lower prices and higher fuel costs compounding the effect of losses at its budget subsidiary Eurowings.
- Reuters