Investors in Europe’s biggest airline aren’t sitting comfortably in their cabins.
German carrier Lufthansa—the top European airline by number of passengers—has seen its stock fall more than 40% over the past six months. European airlines are collectively down 30% due to a weakening economy, labor strikes and cutthroat competition in short-haul markets. Lufthansa’s market value including debt now amounts to just 2.6 times earnings before interest, taxes, depreciation and amortization, compared with 3.2 times for all European…