European airlines' Q3 struggle with plane delays, high costs [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: Yahoo! Finance
dragged down by rising costs and limited planes, with no sign of delivery delays from planemakers Boeing and Airbus improving any time soon. While demand has remained stable, costs for maintenance, adverse weather, air traffic control issues and disruption in the Middle East have continued to weigh on carriers. Delays of new plane deliveries are the biggest ongoing headache, though, forcing airlines to fly older models that are more expensive to maintain and use more jet fuel and cut traffic estimates. Lufthansa Chief Executive Carsten Spohr warned the airline is now expecting a five-year delay on its Boeing 777X deliveries. "We don't expect to get them until 2026. And we need them," he told journalists earlier this month. The German carrier is expected to report on Tuesday a third-quarter operating profit of 1.3 billion euros ($1.4 billion), down 9% from a year ago and a margin of 12.1%, according to a company-led analyst poll. The airline is losing up to $550,000 per fli
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