Over-Ambitious Lufthansa Curbs Growth as Profit Miss Hits Stock
- German carrier reins in capacity expansion for next summer
- Shares down most since 2016 as results fall short of estimates
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Deutsche Lufthansa AG is paying the price of chasing market share in its own backyard as the cost of integrating jets from collapsed rival Air Berlin Plc weighs on earnings.
Lufthansa shares fell as much as 9.5 percent Tuesday, the biggest intraday drop in more than 2 years, after the German carrier’s latest results missed analyst estimates, forcing it to trim expansion plans to help bolster margins.