Flight bookings to Europe drop due to attacks, airline warns

By: |
Frankfurt | Updated: July 21, 2016 9:55:08 PM

German airline Lufthansa has warned that flight bookings are down due to extremist attacks in Europe and increased political and economic uncertainties

flight-LEurope is also facing uncertainty related to Britain’s vote to leave the European Union. (Reuters)

German airline Lufthansa has warned that flight bookings are down due to extremist attacks in Europe and increased political and economic uncertainties. Shares in the company are down 5.6 percent at 10.47 euros ($11.53) Thursday after the company said that ”advance bookings, especially on long-haul routes to Europe, have declined significantly, in particular due to repeated terrorist attacks in Europe and to greater political and economic uncertainty.”

Besides the attacks, Europe is also facing uncertainty related to Britain’s vote to leave the European Union, as well as a failed coup in Turkey last week. As a result, Lufthansa said that its adjusted earnings before interest and tax would be below the previous year’s. For the first six months of 2016, that measure of profits was 529 million euros.

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