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Lufthansa first-quarter loss widens to €298 million

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Lufthansa first-quarter loss widens to €298 million

Unread post by bimjim » Wed May 05, 2010

http://atwonline.com/airline-finance-da ... =nl_atw_dn

Lufthansa first-quarter loss widens to €298 million
By Aaron Karp
May 5, 2010

Lufthansa reported a first-quarter net loss of €298 million ($393.9 million), widened from a €267 million deficit in the year-ago quarter, but said it is seeing "positive demand trends in the cargo and passenger businesses."

First-quarter revenue lifted 16% to €5.8 billion and operating loss was €330 million, significantly widened from a €44 million operating deficit last year.

In a statement issued yesterday in advance of the release of its complete earnings today, LH attributed the quarterly loss to "adverse effects from the first-time consolidation of Austrian Airlines and bmi [both of which it acquired last year], higher fuel costs and nonrecurring effects such as the burden due to the extreme winter and to the strike by cockpit staff."

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