Lufthansa Has First-Quarter Loss on Reorganization Costs

Deutsche Lufthansa AG, Europe’s second-largest airline, said it’s confident of reaching its full-year earnings targets as a savings plan starts to take hold and after the carrier averted more strikes with a pay accord.

The company predicted higher operating profit and sales for this year, after reporting a first-quarter loss of 359 million euros, unchanged from a year earlier. Lufthansa rose as much as 5.8 percent, the most in six months, after the carrier reached the agreement with workers yesterday on pay. Markets were closed in Germany on May 1 because of a public holiday.