Lufthansa Beats Q3 Estimates but Lowers 2026 Profit Outlook

Lufthansa reported third-quarter adjusted earnings before interest and tax (EBIT) of €1.41 billion, a 6% increase from the previous year that exceeded analyst expectations. The growth was driven by strong performance in the group's cargo and maintenance divisions, with Lufthansa Cargo and Lufthansa Technik both beating consensus estimates.

Despite the quarterly beat, the airline group lowered the upper end of its 2026 adjusted EBIT forecast to a range of €1.70 billion to €2 billion, down from a previous ceiling of €2.20 billion. The company cited an expected €600 million increase in fuel costs as the primary driver for the adjustment. Lufthansa also reduced its full-year adjusted EBIT forecast for its Network Airlines division.

In other operational shifts, the group lowered its 2026 net capital expenditure forecast to approximately €2.1 billion, attributing the change to fewer planned aircraft deliveries. Separately, the Portuguese government selected a €1.03 billion bid from Lufthansa for a 44.9% stake in TAP Air Portugal on October 14, a deal that remains pending regulatory approval.