UPDATE 3-Lufthansa warns on profit, shares plunge
* Cuts 2014, 2015 profit targets
* Shares down 14 pct
* New CEO to present restructuring measures in July
* Will review capex plans, plane orders
* Has over 200 planes on order from Airbus, Boeing (Adds plane orders details, analyst comment, links)
By Victoria Bryan
FRANKFURT, June 11 (Reuters) - Lufthansa cut back its profit targets for the next two years on Wednesday citing competition from Middle East and low-cost rivals, sending shares of Europe's biggest-selling airline plunging.
The warnings surprised investors after better-than-expected results in May and come just over a month after new chief executive Carsten Spohr took charge.
Spohr will now set out fresh restructuring plans next month, and the German airline will review its spending plans, including the possible cancellation or deferral of plane orders from Airbus or Boeing, Finance Chief Simone Menne told analysts and reporters. Continuación...