BERLIN: Deutsche Lufthansa AG reduced its loss for the seasonally weak first quarter by more than two-thirds after benefiting from lower fuel prices and cutting costs through the streamlining of its short-haul network.
The adjusted loss before interest and tax narrowed to 53 million euros (US$61.47 million) from 167 million euros a year earlier, the German airline said yesterday. Lufthansa reiterated that it expects earnings to rise only “slightly” this year as weak ticket pricing erodes the benefits of lower oil prices.
