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Lufthansa: losses widen in Q1

( - Lufthansa reports sales of E7392m for Q1 2024, up 5% y-o-y.

However, the company recorded a sharp deterioration in its adjusted EBIT loss, which fell from -E273m to -E849m in the space of twelve months.

As a result, Lufthansa posted a loss of E734m in Q1 (above consensus), after a loss of E467m in Q1 2023. EPS came to -E0.61, compared with -E0.39 a year earlier.

We cannot be satisfied with the operating result for the first quarter, it says, notably pointing to different strikes which had a significant impact on its result.

We will further strengthen our balance sheet and work intensively over the coming months to offset the effects of rising costs. We have taken additional measures to this end, in particular at Lufthansa Airlines, which has been hard hit by the increase in personnel expenses and costs, it added.

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