Lufthansa makes a loss of 1.2 billion euros in the corona crisis

Lufthansa jets

The group has radically cut down its flight schedule.

(Photo: dpa)

Frankfurt The Lufthansa posted an operating loss (adjusted EBIT) of 1.2 billion euros in the first quarter, primarily due to the effects of the corona pandemic. The company announced on late Thursday afternoon. In the same period last year, the largest German airline had posted a loss of 336 million euros. Many airlines are in the red in the first quarter.

Consolidated sales in the first quarter fell on a preliminary basis by 18 percent to 6.4 billion euros. In March alone, sales declined by almost 1.4 billion euros or 47 percent, the company said.

It is currently not foreseeable when the group airlines will be able to resume flight operations beyond the currently applicable return flight schedule. The Group therefore expects a significantly higher operating loss in the second quarter than in the first quarter. The Lufthansa Group’s available liquidity is currently around 4.4 billion euros.

Shortly before the close of trading on Thursday, the Lufthansa share expanded its losses and closed just under two percent in the red.

More: Ryanair boss O’Leary: “Lufthansa wants to enrich the state”


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