Lufthansa slumps to Q1 loss with fuel costs increasing
Lufthansa reported a Q1 loss because of rising fuel costs, highlighting industry woes that prompted the airline to cut its growth plans last month. The adjusted loss before interest and taxes was E336m (US$380m), the carrier said Monday after the market closed. That compared with earnings of E52m a year earlier. The downturn was particularly stark because of strong results for the beginning of last year following the collapse of Air Berlin, it said. The loss comes after Lufthansa opted to pare planned capacity increases this summer to bolster fare prices and focus on profitability. The European airline industry is coming off a tough year, with bad weather and air-traffic-control strikes among the factors hurting profit. Ryanair has warned that depressed fares will continue for the rest of the year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-04-16/star/lufthansa-slumps-to-q1-loss-with-fuel-costs-increasing
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Lufthansa slumps to Q1 loss with fuel costs increasing
Lufthansa reported a Q1 loss because of rising fuel costs, highlighting industry woes that prompted the airline to cut its growth plans last month. The adjusted loss before interest and taxes was E336m (US$380m), the carrier said Monday after the market closed. That compared with earnings of E52m a year earlier. The downturn was particularly stark because of strong results for the beginning of last year following the collapse of Air Berlin, it said. The loss comes after Lufthansa opted to pare planned capacity increases this summer to bolster fare prices and focus on profitability. The European airline industry is coming off a tough year, with bad weather and air-traffic-control strikes among the factors hurting profit. Ryanair has warned that depressed fares will continue for the rest of the year. <br/>
