Germany's Lufthansa raises full-year outlook in light of strong 3rd quarter, cheaper fuel

BERLIN – Lufthansa is raising its full-year earnings outlook in light of a strong third-quarter performance and lower oil prices.

Deutsche Lufthansa AG reported a July-September net profit for the airline group of 794 million euros ($876 million), up from 561 million euros a year earlier. Revenue rose to 8.94 billion euros from 8.46 billion euros.

The company said Thursday it expects adjusted full-year earnings before interest and taxes of between 1.75 billion euros and 1.95 billion euros, up from the previous target of over 1.5 billion euros. It forecast fuel costs this year will total 5.7 billion euros, 300 million euros less than it predicted after the second quarter.

Lufthansa said its outlook doesn’t reflect any new strike-related costs that may arise from disputes with its pilots and other groups.