BERLIN (Reuters) -Lufthansa on Thursday reported better second-quarter results than expected, boosted by low oil prices and currency effects, and confirmed its full-year guidance.
The German airline group reported an operating profit of 871 million euros ($995.29 million), compared with 805 million euros expected, according to an analyst poll compiled by Lufthansa.
That’s up 27% compared with 686 million euros reported in the same quarter last year.
The company said the improved earnings were mainly due to its expanded flight programme in the passenger business, the positive effects from its investment in Italy’s ITA Airways and a doubling in the operating result in its logistics segment.
Lufthansa also said demand in the United States remained strong despite the weakness of the U.S. dollar.
Europe’s major airlines are cautiously observing for a possible dip in transatlantic travel as European travellers have shied away from booking trips there this year.
A number of U.S. airlines, including Delta, pulled their outlooks this spring on the back of weakening travel demand after U.S. President Donald Trump’s administration announced tariffs, denting business and consumer confidence.
European airlines, however have remained more optimistic to date.
($1 = 0.8751 euros)
(Reporting by Ilona Wissenbach and Rachel More, Editing by Miranda Murray)
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