Lufthansa Slumps to First-Quarter Loss With Fuel Costs Increasing
- Reported $380 million loss is worse than any of 12 estimates
- Airline says fuel costs and fare war are crimping margins
A ground crew member stands beneath an Airbus A321 aircraft, operated by Deutsche Lufthansa.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Deutsche Lufthansa AG shares dropped as Europe’s largest airline reported a first-quarter loss that was 80 percent higher than the average analyst estimate.
The stock fell as much as 5 percent Tuesday after Lufthansa posted an adjusted loss before interest and tax of 336 million euros ($380 million). The figure was worse than any of 12 earnings estimates and came five weeks after the German company issued a detailed guidance update.