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Airline shares under pressure after surprise Lufthansa profit warning – business live

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Shares in airlines are on the back foot across Europe after a surprise Lufthansa profit warning overnight. Lufthansa shares fell by 11.5% on Monday morning after the German airline on Sunday lowered its profit outlook for 2019, citing intense price competition from low-cost rivals in Europe. Lufthansa slashed its pretax profit expectations from a range of €2bn to €2.4bn , compared with the previously targeted €2.4bn to €3bn.

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