FRANKFURT (dpa-AFX) - Against a backdrop of expected market-wide weakness, Lufthansa shares fell significantly in pre-market trading on Monday. In addition to developments in the Middle East, which are once again driving oil prices higher, the airline's stock is also suffering from a new round of pilot strikes. On the Tradegate platform, shares were trading four percent below Friday's Xetra closing price this morning. The share price is thus approaching levels seen prior to the agreed ceasefire in Iran.
Following the provisional collapse of peace negotiations between the U.S. and Iran, oil prices are rallying again due to the naval blockade of Iranian vessels subsequently announced by U.S. President Donald Trump. In a sector study, analyst Alex Irving of Bernstein Research reduced his price target for the airline, noting that "kerosene costs are burning through profits." Lufthansa is also being hampered at the start of the week by the Vereinigung Cockpit (VC) union, which has called for walkouts through Tuesday./tih
Deutsche Lufthansa AG is a Germany-based aviation company, which provides passenger and cargo air transportation services worldwide. The Company's segments include Passenger Airlines, Logistics, MRO and Catering. The Passenger Airlines segment includes Lufthansa Airlines, SWISS, Austrian Airlines, Brussels Airlines and Eurowings. The Logistics segment includes the airfreight container management specialist Jettainer group, the time:matters Group, which specialises in urgent shipments, the subsidiary Heyworld, which specialises in tailored solutions for the e-commerce sector, CB Customs Broker, the customs and customs clearance specialist, and the Lufthansa Group’s 50% stake in the cargo airline AeroLogic. The MRO segment, represented by the Lufthansa Technik group, is a global provider of maintenance, repair and overhaul services for civil and commercial aircraft. The Catering segment consists of traditional catering and onboard retail along with food commerce activities.
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