Lufthansa Raises 2008 Fuel Cost Estimate

Lufthansa expects fuel costs to rise this year to some 5.26 billion euros ($8.29 billion) after hedging, finance chief Stephan Gemkow said on Friday. The carrier had said last month it expected fuel costs to increase to 4.9 billion euros this year from 3.9 billion euros last year.

Lufthansa gave a range of scenarios for this year’s fuel bill from 4.88 billion euros with oil at $89 a barrel to as much as 5.71 billion euros this year at $134 a barrel.