Lufthansa reports decline in Q2 profits

Lufthansa has reported a second-quarter operating profit of €359 million, far below analysts’ expectations of €416 million. The airline cites a fall in ticket prices on North American, Asian and European routes as the reason for the decline. After the announcement, Lufthansa CFO Simone Menne said: “We are not happy with the second quarter; we have a lot of catching up to do in the summer.” The airline continues to forecast a full-year operating profit of around €1bn, and 2015 profit of €2bn. Lufthansa also said yields were down 2.6%, adjusted for currency effects in the quarter, extending yield declines