Lufthansa cuts profit target

Based on preliminary figures, Deutsche Lufthansa generated revenues of €15.0bn in the first half of 2016 compared to €15.4bn in the prior-year period. The Adjusted EBIT came to €529m compared to €468m, last year. The Passenger Airline Group business segment achieved an Adjusted EBIT of €441m compared to €249m in the prior-year period. Unit revenues at constant currency decreased by 5.2 per cent on the same period of the previous year. Unit costs excluding fuel and currency effects were down year-on-year by 1.3 per cent. Not included in the half-year figures are the effects on the balance sheet and the