Lufthansa Reduces Losses as Efficiency Program Bears Fruit
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Deutsche Lufthansa AG narrowed its first-quarter loss as measures to cut costs and improve efficiency took hold and fuel expenses declined.
The operating loss fell to 245 million euros ($340 million) from 359 million euros a year earlier, partly helped by a profit at the maintenance subsidiary, Europe’s second-largest carrier said in a statement today. Sales fell 2.5 percent to 6.46 billion euros, while the net loss narrowed by 45 percent to 252 million euros.