Lufthansa deepens loss to 734 million euros in Q1
The Lufthansa Group reported a loss of 734 million euros in the first quarter today, compared to a negative result of 467 million in the same period of 2023, due to the impact of strikes in Germany.
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Economia Companhia aérea
In a statement, the airline group reported that revenues rose 5% to 7.392 billion euros, of which 5.562 billion corresponded to its passenger airlines, representing a 7% increase year-on-year.
The turnover of its maintenance, inspection and repair services, as well as other Lufthansa Technik products, increased by 15% to 1.770 billion euros, while revenues from the logistics business fell by 16% to 691 million.
The company stressed that the strikes in Germany during the first quarter, which were constant, both among the group's workers and among the workers of its partners, had a negative impact on its results of around 350 million.
The performance of its airlines fell by 2.5%, partly due to customer uncertainty due to strikes and the lack of last-minute bookings at high prices.
All of the group's passenger airlines -- Lufthansa, Swiss, Austrian Airlines, Brussels Airlines and Eurowings -- recorded operating losses up to March, compared to the same period of the previous year, with the exception of Swiss.
However, these were particularly pronounced at Lufthansa, with a negative earnings before interest and taxes (Ebit) of 640 million, which led the company to initiate measures to strengthen its subsidiary in the short term, such as cost reduction, stopping new projects and assessing the need for additional staff in administrative areas.
Up to March, 24,359 passengers flew on the group's airlines, 12% more than in the previous year, while flights offered grew by 6% to 196,971.
On average, the airlines offered 84% of their capacity up to March, which did not meet their targets due to the strikes.
The company has revised down its outlook for 2024 and now expects a capacity increase of 92%, compared to the 94% initially forecast, due to higher investments and delays in aircraft deliveries.
Read Also: Lufthansa reaches agreement with unions for salary increase (Portuguese version)
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