Rising fuel costs and seating surplus push Lufthansa into loss

Rising fuel costs and seating surplus push Lufthansa into loss
  • Clock-gray 19:33
  • calendar-gray 16 April 2019

Lufthansa reported an operating loss of 336 million euros ($380 million) for the first three months of the year, hurt by rising fuel costs and excess capacity in Europe, sending its shares down on Tuesday, ONAreports citing Reuters.

Germany’s biggest airline said in an after-hours update on Monday that a 202 million euro rise in fuel costs had contributed to the loss, while ticket prices fell significantly at Lufthansa’s other airlines, which include SWISS and Austrian Airlines, as well as budget carrier Eurowings.

The size of the loss was far greater than analysts had expected.

Lufthansa reported an operating profit of 52 million euros for the same period a year earlier.

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