Lufthansa Pares Growth Plans After Fare War Weighs on Profit
- German carrier reins in capacity in bid to bolster prices
- Latest targets suggests margins will remain under pressure
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Deutsche Lufthansa AG cut its growth plans after a slide in fares and higher fuel costs weighed on 2018 earnings.
The stock fell the most in 4 1/2 months on Thursday after the German carrier said it will slow capacity increases to 1.9 percent this summer from the 3.8 percent previously planned in an effort to bolster prices and cope with limited room for extra flights at airports.