More airlines will follow in the footsteps of German Lufthansa and its profit warning, HSBC writes in an analysis, reports the Financial Times. 

According to the analysis, subdued demand, in the wake of increased environmental awareness among consumers and an expectation of warm weather, is behind the low number of air travelers, the newspaper writes.

Airlines manage to fill their planes, but only after price cuts, which affects revenues, it further emerges. 

Lufthansa issued a profit warning on Monday and lost just over 12 percent on the stock market, which also dragged down the European airline industry. After the profit warning, several analysts lowered their recommendations for Lufthansa, but also for other European airlines such as Air France and Easyjet. 

SAS fell back 3.3 percent on Wednesday and has lost a total of just over 6 percent since the German competitor issued a profit warning.

Air France fell just over 3 percent while Easyjet fell 1.6 percent on Wednesday. 

Source: Nyhetsbyrån Direkt