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German airline group Lufthansa said Tuesday it expects its 2026 fuel costs to be €2 billion ($2.24 billion) higher than last year as the Iran war continues to keep global energy prices elevated.
Releasing its third-quarter results, Lufthansa forecast a full-year fuel bill of €9.3 billion, €600 million above what it had expected only a few months earlier.
The group, which also operates Swiss, Brussels Airlines and Eurowings, also slightly lowered its 2026 core profit forecast to between €1.7 billion and €2 billion, from a previous range of €1.7 billion to €2.2 billion.
Despite the weaker full-year outlook, Lufthansa reported a 30% increase in net profit for the July-September quarter, beating forecasts.
Net profit reached €1.26 billion, while revenue increased 9% from a year earlier to €12.2 billion.
The company said strong demand for premium tickets to Asia and North America supported the results.
Fuel expenses in the quarter were more than €500 million higher than a year earlier.
“We improved our result compared with the previous year, despite higher fuel costs weighing on the quarterly result by more than half a billion euros—we are satisfied with that,” Chief Financial Officer Till Streichert said.
“This was supported by robust demand in passenger traffic.”
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