Lufthansa warns 2026 profit may fall after Iran war hits Q2

Lufthansa said the fallout from the Iran war and employee strikes weighed heavily on its second-quarter results and warned that full-year profit could decline in 2026.

Chief Executive Carsten Spohr now expects the airline group's adjusted earnings before interest and taxes (EBIT) to come in at between €1.7 billion ($1.9 billion) and €2.2 billion this year, the company said on Tuesday.

Spohr had previously forecast that adjusted EBIT would exceed last year's €1.96 billion despite a sharp rise in fuel costs caused by the conflict.

However, soaring kerosene prices during the second quarter led to a steep drop in earnings. Adjusted EBIT fell 56% to €383 million.

Net profit plunged 88% to €123 million, partly because the prior-year result had been boosted by a positive tax effect.

The results were weaker than analysts had expected on average.