Lufthansa Balances TAP Expansion and Dubai Return Against a Higher Fuel Bill
Published on 11/12/2026 at 18:02 | Editorial boerse-global.de
Lufthansa Group has moved on several fronts at once, pairing a narrowed 2026 profit target with a landmark stake purchase in Portugal's flag carrier, a partial reopening of its Gulf network and the arrival of a new long-haul flagship.
The Cologne-based group now expects adjusted EBIT of EUR 1.7 billion to EUR 2.0 billion for 2026, a range it firmed up on 3 November. Its fuel bill forecast has climbed to EUR 9.3 billion.
Third-quarter earnings beat year-earlier level
For the three months to the end of September 2026, the airline reported revenue of EUR 12.2 billion, up nine percent. Adjusted operating profit reached EUR 1.41 billion, a six percent gain on the prior-year period.
TAP stake could grow to 49.9 percent
Lufthansa and the Portuguese government signed a contract last week covering the acquisition of an initial 44.9 percent of TAP Air Portugal. The purchase price is EUR 1.02 billion, and closing remains subject to regulatory approval.
Should investors sell immediately? Or is it worth buying Lufthansa?
Additional tranches could lift the holding to as much as 49.9 percent. Including a ticking fee, the total consideration could reach EUR 1.2 billion.
Dubai flights resume from Munich and Berlin
On the network side, the group said yesterday it would partially restore Dubai service from 25 November. Lufthansa plans five weekly flights from Munich, while Eurowings will operate daily from Berlin.
Frankfurt–Dubai and the Dubai routes flown by Austrian Airlines, SWISS and ITA Airways will stay suspended through the end of the 2026/27 winter timetable.
Barclays lifts rating and target
Barclays upgraded the stock from "Underweight" to "Equal Weight" on Friday, raising its price target to EUR 8.40 from EUR 7.50. The broker pointed to falling fuel costs expected in the wake of the US midterm elections.
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A350-1000 named "Deutschland" joins the fleet
Lufthansa took delivery of its first Airbus A350-1000 in Munich yesterday. Christened "Deutschland," the aircraft becomes the group's new flagship and marks its 700th Airbus. Its maiden commercial flight, to Tokyo-Haneda, is scheduled for 3 December.
Cargo tie-up with Japanese carriers
Also on Friday, Lufthansa Cargo, SWISS WorldCargo, ANA and Nippon Cargo Airlines signed a letter of intent to explore closer cooperation in the air freight market between Japan and Europe.
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Fresh Lufthansa information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
