Summary The airline was now aiming for an operating profit of about 2.0 billion euros.
FRANKFURT (AFP) - German airline Lufthansa cut its earnings targets for this year and next year on Wednesday in the face of disappointing developments in passenger and freight business and financial fallout from strikes.
"The executive board is reducing its operating profit forecast for 2014. It now expects an operating result of approximately 1.0 billion euros" ($1.3 billion), it said in a statement.
The reason was "a weaker than expected revenue development in the passenger and freight businesses as well as negative earnings impacts from strikes and the devaluation of the Venezuelan Bolivar," the airline explained.
"Against this background, the executive board no longer expects to achieve the 2015 operating target," Lufthansa continued.
The airline was now aiming for an operating profit of about 2.0 billion euros, the statement said.
Previously, Lufthansa had been targeting operating profit of 1.3-1.5 billion euros this year and 2.6 billion euros in 2015.
