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18 June, 2019 00:00 00 AM

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Lufthansa shares plunge after profit warning

AFP, Frankfurt Am Main

Shares in German airline giant Lufthansa plunged more than 12 per cent yesterday after the group posted a profit warning.

At 0753 GMT, the shares were down 12.5 per cent at 15.48 euros, underperforming Frankfurt’s main DAX index which was up 0.12 per cent.

In a statement issued late Sunday, the Frankfurt-based group said it now expects to reach an operating margin of between 5.5 to 6.5 per cent, down from an earlier estimate of 6.5 to 8.0 percent.

The revision in its annual targets corresponds to an operating profit of between 2.0 to 2.4 billion euros ($2.2 -2.7 billion). The outlook also factors in a fuel cost increase of 550 million euros.

 

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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