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Lufthansa earnings hit by high fuel cost, overcapacity



Germany's largest airline Lufthansa suffered a loss in the first three months of the year, damaged by rising fuel costs and overcapacity in Europe.

The company said in a statement Monday night that adjusted earnings before interest and tax (EBIT) fell to -336 million (- $ 380 million) compared to 52 million euros the year before.

The result was hit by an increase of 202 million euros in fuel costs, as well as a strong comparison with the previous year when Lufthansa said it expected unit currency earnings to increase year on year in the second quarter, helped by favorable order levels and a clear braking of the airline. of the market-wide capacity growth.

Lufthansa said in 201

9 that it is still expected to report a corrected operating margin of 6.5-8.0 per cent.

Shares in the airline were indicated to open 5.5 percent lower in premarket trading on ten Sunday morning at 0535 GMT.


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