Lufthansa has lowered its pre-tax profit prediction for 1999 by 50% - despite returning the second-best first-half operating result in its history. The German carrier's operating profit of DM578 million ($312.3 million) for the first six months was second only to the same period last year, but still 40.4% down on that year's figure of DM969 million.
Lufthansa attributed the slide to "a further sharpening of the competitive situation" and "adverse operating conditions"
Source: Flight International