SUBSCRIBE

CATEGORIES

Lufthansa reports narrower Q1 loss, expects recovery in H2

imageStock Markets35 minutes ago (Apr 29, 2021 01:15AM ET)

(C) Reuters. FILE PHOTO: A Lufthansa plane takes off behind a grounded jet at the airport in Frankfurt

BERLIN (Reuters) – Deutsche Lufthansa (DE:LHAG) on Thursday reported a smaller first-quarter net loss than a year earlier, thanks to drastic cost cuts, and said it expects a significant market recovery in the second half of the year.

The German carrier said its net loss came at 1.05 billion euros ($1.27 billion), almost half of the loss it posted for last year’s first quarter.

First-quarter adjusted loss before interest and taxes (EBIT) also narrowed, coming in at 1.14 billion euros.

It said demand is expected to pick up only gradually in the second quarter and saw a significant market recovery in the second half of the year, thanks to vaccinations rollouts and growing testing acceptance.

Lufthansa reports narrower Q1 loss, expects recovery in H2

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.