Lufthansa CEO Says Jet Fuel Hit to Top €1.5 Billion Forecast
The German carrier said hedging limits volatility, but fuel still makes up 30% to 40% of airline costs, executives said.
- On Monday in Frankfurt, Lufthansa CEO Carsten Spohr warned that the airline's additional jet fuel bill will exceed the €1.5 billion flagged in August as the Iran war drags on and oil prices spike.
- The German group joins Ryanair in warning about the effects of ongoing high jet fuel costs, which account for 30 to 40% of airlines' expenses and are impacting the sector broadly.
- Lufthansa Chief Financial Officer Till Streichert reported in August an 86% fuel hedge ratio for 2026, and Spohr reaffirmed the group's operating profit forecast of €1.7 billion to €2.2 billion despite higher fuel costs.
- Spohr noted a "boom in bookings" for premium cabins, a trend also appearing at competitors Air France-KLM and IAG, though the airline's turnaround program targeting 8% to 10% margins faces fuel-cost headwinds.
- Financial performance hasn't yet met desired results this year, Spohr acknowledged, despite the carrier previously forecasting total 2026 fuel costs of €8.66 billion before the additional burden emerged.
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Deutsche Lufthansa AG has yet another year of financial and operational challenges, ranging from uncertainty in the supply of aircraft to high oil prices, told journalists on Frankfurt the Chief Executive Officer of Carsten Spor.
Kronen Zeitung
Lufthansa CEO Carsten Spohr expects even higher kerosene costs for the AUA parent company due to the Iran war. One would probably be happy if the last mentioned additional costs of 1.5 billion euros remained, said Spohr in front of journalists in Frankfurt on Monday evening. "The number will be higher, which we probably have to report at the end of the year."
Lufthansa CEO Carsten Spohr expects further increases in kerosene costs beyond the 1.5 billion previously mentioned due to the Iran war and responds with higher ticket prices.
Not only do the increased oil prices at the petrol stations make it possible for motorists to do so. Lufthansa, too, must spend more money on kerosene.
Here you will find information on the topic "Following the Iran War". Read now "Lufthansa boss expects even higher kerosene costs".
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