Lufthansa lowers outlook; IMO 2020; and the lead story from Paris

Lufthansa shares fell by 11.5% this morning at the open after the German flag carrier lowered its profit outlook for 2019 from €2.4-3bn to €2-2.4bn, citing price competition from low-cost rivals. In a statement, Lufthansa said: “Yields in the European short-haul market, in particular in the group’s home markets, Germany and Austria, are affected by sustained overcapacities caused by carriers willing to accept significant losses to expand their market share.” This is pressure on the Eurowings low-cost arm of Lufthansa, which is being put into retreat by the likes of Ryanair, easyJet, Wizz Air and Norwegian; in the same manner