Plus   Neg

Deutsche Lufthansa Posts Q1 Negative Adj. EBIT

Deutsche Lufthansa AG reported that its adjusted EBIT was negative 336 million euros for the first three months of 2019, compared to 52 million euros last year.

Earnings for the period were reduced by a 202 million euros rise in fuel costs. Market-wide overcapacities in Europe also put strong downward pressure on fares. The earnings decline was accentuated by the fact that first-quarter results for 2018 were particularly strong, owing to the capacity reductions deriving from Air Berlin's demise. Unit revenues for the period were down significantly at both the Network Airlines and Eurowings.

Lufthansa Group expects unit revenues at constant currency to increase year-on-year in the second quarter. For 2019 as a whole, the Lufthansa Group still expects to report an Adjusted EBIT margin between 6.5 and 8.0 percent.

The company said it will publish its detailed results for the first quarter of 2019 on 30 April 2019.

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