Lufthansa announces how much it lost

German airline Lufthansa has reported a net loss of 734 million euros for the first quarter of the year, driven by the impact of strikes.

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The Lufthansa Group has announced its financial results for the first quarter of the year.

Accordingly, while the company's adjusted earnings before interest and taxes (EBIT) loss was 273 million euros in the first quarter of last year, it reached 849 million euros in the same period this year.

350 MILLION EUROS IN EXPENDITURES

The Lufthansa Group was forced to spend 350 million euros in the first three months of this year due to costs arising from accepting higher wages for its employees and disruptions caused by cancellations due to strikes.

Thus, the German company's net loss in the first quarter reached 734 million euros, while the loss per share reached 0.61 euros. Lufthansa had reported a net loss of 467 million euros in the first quarter of last year, with a loss per share of 0.39 euros during that period.

The group's revenue increased by 5 percent in the first quarter, rising from 7.02 billion euros last year to 7.39 billion euros.

24 MILLION PASSENGERS CARRIED

Lufthansa, which also owns Eurowings, Swiss, Brussels, and Austrian Airlines, announced that it carried 24 million passengers during the period in question.

In the same quarter of last year, 22 million passengers had been carried.

News Source: AA