Cost InflationPersistent cost inflation and prolonged airport capacity constraints could lead to earnings disappointment and dampen Lufthansa's growth.
Macroeconomic WeaknessMacroeconomic weakness and geopolitical tensions could curb discretionary spending on travel, leading to potential reductions in travel spending by households.
Operational DisruptionsOperational disruptions from strikes, unscheduled engine maintenance, and delayed deliveries are expected to continue, leading to management revising the full-year outlook downwards.