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Home Business Aviation

Lufthansa reports narrower first quarter loss, expects recovery in second half

4 years ago
in Aviation, highlights, Home, home-news, latest News
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Deutsche Lufthansa on Thursday reported a smaller first-quarter net loss than a year earlier, thanks to drastic cost cuts, and said it expects a significant market recovery in the second half of the year.

The German carrier said its net loss came at 1.05 billion euros ($1.27 billion), almost half of the loss it posted for last year’s first quarter.

First-quarter adjusted loss before interest and taxes (EBIT) also narrowed, coming in at 1.14 billion euros.

It said demand is expected to pick up only gradually in the second quarter and saw a significant market recovery in the second half of the year, thanks to vaccinations rollouts and growing testing acceptance.

Source: cnbc
Via: norvanreports
Tags: adjusted loss before interest and taxes (EBIT)Deutsche Lufthansasmaller first-quarter net loss
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