Lufthansa faces €1.7B extra fuel costs amid Middle East crisis, offsets with savings and ticket revenue.

Lufthansa reported an additional €1.7 billion in fuel costs due to the Middle East conflict, despite hedging 80% of its jet fuel. The airline's first-quarter adjusted EBIT rose to €612 million, with revenue up 8% to €8.7 billion. To manage rising fuel prices and supply challenges, Lufthansa cut 20,000 short-haul flights to save fuel and avoid losses. The ongoing jet fuel shortage in Europe, worsened by the Strait of Hormuz blockade, is impacting airlines broadly, with EasyJet also reporting significant fuel cost increases and weaker bookings.