Lufthansa Slumps to First-Quarter Loss With Fuel Costs Increasing

Deutsche Lufthansa AG recorded a first-quarter loss after fuel costs rose by 202 million euros ($228 million), although the airline stuck by its forecast for a full-year profit.

Adjusted loss before interest and taxes was 336 million euros in the quarter, Germany’s biggest carrier said in a statement Monday after the market closed. That compared with earnings of 52 million euros a year earlier. The downturn was particularly stark because of particularly strong results for the beginning of last year as capacity was reduced following the collapse of Air Berlin.

Lufthansa still expects to report annual adjusted EBIT margin of between 6.5 percent and 8 percent, the airline said. The stock has gained 12 percent this year, valuing the carrier at 10.5 billion euros.

Source: Civil Aviation Authority