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The Lufthansa Group CFO is “not happy”. Competition, strikes and overcapacity have contributed to lower-than-expected second quarter operating  profits of €359m, well below analyst forecasts of €416m. The logistics business segment, which includes Lufthansa Cargo, Aerologic and Jettainer, saw first half revenues fall 4.8% to €1.1bn, and the operating result down 45% to €34m. Volumes fell 3.8% against capacity cuts of 2.1%. For Lufthansa’s full detail on its logistics division, go here (page 18). For the Reuters story on LH’s woes, read on.

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