Lufthansa stock trades at EUR 7.69 as fuel costs rise

Published on 09/30/2026 at 16:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lufthansa stock faces a 2026 adjusted EBIT range of EUR 1.7 billion to EUR 2.2 billion after fuel costs exceed EUR 8.7 billion. Q2 revenue rose 8 percent.

Weißes Passagierflugzeug beim Start in goldenes Abendlicht auf einer Landebahn — Fotorealistisches Stockbild für Deutsche Lufthansa AG (ISIN DE0008232125): Ein generisches, ungebrandetes Verkehrsflugzeug beim Start in warmem goldenem Abendlicht auf einer langen Landebahn, dramatischer Sonnenuntergang im Hintergrund, Illustration mit AI erstellt.

Lufthansa stock was trading at EUR 7.69 at Lang & Schwarz on September 30, 2026 at 4:09 p.m. CEST, down 0.90 percent versus the prior close of EUR 7.76. The immediate issue is cost pressure: finanzen.ch reported on September 29, 2026 that Lufthansa expects its 2026 fuel bill to exceed EUR 8.7 billion.

Fuel costs reset the outlook

The higher fuel bill puts the earnings outlook under direct pressure. According to finanzen.ch on September 29, 2026, Lufthansa expects 2026 adjusted operating profit of EUR 1.7 billion to EUR 2.2 billion, compared with EUR 1.96 billion in 2025. The range leaves the group below its previous goal of exceeding the prior-year result.

The risk is visible in the latest quarter. Aviation Intelligence identifies Q2 2026 revenue of EUR 11.141 billion, up 8 percent year over year, while adjusted EBIT fell 56 percent to EUR 383 million from EUR 870 million in Q2 2025. The resulting adjusted operating margin was 3.4 percent, compared with 8.4 percent a year earlier.

Revenue growth meets thinner margins

That contrast is the central investment fact: Lufthansa is still growing sales, but fuel and strike-related costs are absorbing the operating benefit. The Q2 figures show why the revised annual range matters more than revenue growth alone, since the 8 percent increase in sales came alongside a 56 percent decline in adjusted EBIT.

Premium demand offers a counterweight. finanzen.ch reported that Lufthansa CEO Carsten Spohr described premium-class demand as resilient on September 29, 2026. The same report said premium cabins generate more than half of Lufthansa's long-haul revenue, making pricing power a key offset to fuel inflation.

Bernstein keeps a EUR 9 target

Analyst sentiment remains measured rather than uniformly negative. According to finanznachrichten.de on September 24, 2026, Bernstein Research kept Lufthansa at Market-Perform with a EUR 9.00 price target. Its assessment centers on fuel as the industry's largest cost factor and warns that winter capacity reductions may not fully prevent losses.

Stock remains below its yearly high

Lufthansa stock was trading 25.17 percent below its 52-week high of EUR 10.29 and above its 52-week low of EUR 6.72 on September 30, 2026. The EUR 9.00 Bernstein target is 17.04 percent above the Lang & Schwarz price, but the daily quote still stood below the prior close, keeping fuel costs and margin recovery at the center of the setup.