Lufthansa Cuts Profit Forecast Again as High Fuel Costs Hit Airline Industry

This is the second forecast cut in three months for Europe's largest airline.

The company now says it expects an adjusted operating profit of 1.7-2 billion euros. In addition to oil prices, the company's cargo operations are expected to be crucial to the outcome.

The aviation industry in particular has been hit hard by soaring oil prices, which have driven up costs. On Monday, for example, low-cost airline Ryanair announced that it needed to take action and warned, among other things, that it might need to freeze employee salaries.