German airline giant Lufthansa slashed its 2024 profit forecast Friday after a weak second quarter and launched a "turnaround" plan for its flagship carrier, which it warned might not break even.

It was further evidence of renewed turbulence at one of Europe's biggest aviation groups, which has been on the back foot in recent months as a post-pandemic bounce peters out.

The group said in a statement it now expects operating profit of 1.4-1.8 billion euros ($1.5-$1.9 billion) for the year, down from a previous estimate of around 2.2 billion euros.

Second-quarter operating profit was 686 million euros, tumbling almost 40 percent from a year earlier, according to preliminary figures for the group, whose airlines include Lufthansa, Eurowings, Austrian, Swiss and Brussels........

© International Business Times