Lufthansa ups 2016 profit forecast on improved business demand
aTP- Arab tourism portal News- German airline Lufthansa on Wednesday raised its profit forecast for the year, after recording better than expected demand from business travellers in September.
The group said earnings before interest and tax will reach "approximately previous year’s level" of 1.8 billion euros ($2 billion) rather than the "below previous year" forecast given earlier.
"Compared to the previous guidance, especially the difficult-to-forecast short-term bookings of business travellers in September have developed better than expected," it said, adding that moves to slash capacity had also paid off.
For the first nine months of the year, Lufthansa said preliminary results show revenues reaching 23.9 billion euros, down from 24.3 billion euros during the same period a year ago.The airline is due to release its full nine-month financial report on November 2.