Lufthansa leaders expect another record summer in regards to air tickets sales, however, still forecast profit decline due to oil prices growth and increased spending on Eurowings business, Reuters reports.

On Monday global airlines reduced sector’s profitability estimates for 2018 due to fuel price increase. Oil prices growth can also result in capacity reductions among carriers.

Lufthansa expanded its budget unit Eurowings through acquisitions and expects to grab more market share now. The company is also trying to fill spots that became available after rival Air Berlin's collapse and is not going to cut capacities.

International Air Transport Association (IATA), which represents 280 air carriers, reduced profit forecast for the sector this year by 12% from $38,4 billion to $33,8 billion. However, passengers yield will grow by 3,2%. It will be the first growth since 2011 that happens due to increase in demand among strong global economy behavior.