Germanwings tragedy and strikes increase turbulence for Lufthansa
GERMAN flag carrier Lufthansa said yesterday it made a net profit of €425m (£313m) in the first quarter of 2015, up from a €252m loss during the same period a year earlier. The airline’s revenues rose eight per cent to €6.97bn.
Nonetheless, it still made an adjusted loss before interest and tax of €144m, but this was slightly better than the €172m that analysts had been expecting.
Lufthansa has had a torrid period in the wake of the Germanwings flight 9525 disaster on 24 March.
Andreas Lubitz, the co-pilot on the Lufthansa subsidiary’s flight from Barcelona to Dusseldorf, is thought to have deliberately caused the crash.
The airline group also faces ongoing pilot strikes in a dispute with the union over changes to its early retirement scheme.
Lufthansa did receive a boost from low global oil prices, however, which have significantly reduced its fuel costs, adding that its fuel bill fell €209m for the quarter.
Shares closed down 1.96 per cent.