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Lufthansa: record Q3 revenue, guidance lowered because of fuel
On 3 November 2026, Lufthansa reported record quarterly revenue, but cut its guidance because of the cost of fuel. On the same day, Brent was trading above $106.
By Yvan T., published
The facts
According to Yahoo Finance France (3 November 2026), the German group recorded record quarterly revenue, despite the weight of fuel in its costs.
According to Boursorama (3 November 2026), Lufthansa at the same time lowered its guidance, citing higher fuel costs. The outlet adds that third-quarter profit was in line with expectations.
According to Le Revenu (3 November 2026, 12:38), a barrel of Brent was up 1.76% to reach $106.61.
The headlines of the articles consulted give no detail on the amount of revenue, the level of profit or the new guidance range. These figures are therefore not included here.
Our take
Reading: the message is twofold. Demand appears solid, since revenue reached a record. But fuel is weighing on profitability to the point of forcing a revision of targets. Quarterly profit in line with expectations, combined with lowered guidance, suggests that the market was focusing mainly on the rest of the year.
With Brent above $106 on the day of the announcement, the pressure on an airline’s costs remains strong. The available sources do not say to what extent Lufthansa can pass this increase on in its fares, or what share of its fuel it has hedged.
Without figures on the guidance cut and on the share price reaction, it is impossible to support a firm opinion or a price target. I am therefore refraining from taking a view.
Risks to watch
Durably high oil prices would continue to erode margins and could lead to further guidance revisions. Conversely, a fall in Brent or a good ability to pass the increase on in ticket prices would improve the picture. The information consulted is incomplete (no detailed figures), which limits the scope of this analysis.
Sources
- Lufthansa enregistre des recettes trimestrielles record malgré le coût du carburant
- Lufthansa abaisse ses prévisions à cause des coûts du carburant, bénéfice du T3 conforme aux attentes
- Pétrole : le baril de Brent en hausse de 1,76 % à 106,61 dollars
Information from these sources is summarised and rewritten. It has not been independently verified beyond cross-checking between sources; where the reliability of a piece of information is in doubt, the article says so.
Transparency
- AuthorTo be completed, Founder and author of the site, private investor.
- Conflicts of interestOn the publication date, holds no position in Lufthansa. The site receives no payment from the companies it covers. The author refrains from any transaction in a stock covered 24 hours before and 48 hours after publication.
- MethodCompilation of public information dated November 3, 2026 (sources listed above). The facts reported are kept separate from the analysis, which expresses the author's view. Full methodology.
- Artificial intelligenceText written with an artificial intelligence tool from the sources cited and published automatically, without prior human review.
- History
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