FRANKFURT: German airline Lufthansa said Thursday that first-quarter earnings were hit by restructuring charges, writedowns and a strike by its workforce in March.
Lufthansa said in a statement that its net loss widened to 459 million euros ($605) for the period from January to March, compared with a year-earlier loss of 394 million euros.
At an underlying level, the operating loss was stable at 359 million euros and revenues edged up 0.1 percent to 6.628 billion euros in the three-month period.
"The strike by Lufthansa ground staff on March 21 depressed the operating result... as did high fuel costs and the long winter," said Lufthansa, which also owns Austrian Airlines and SWISS.
Looking ahead, Lufthansa said it would stick to its full-year targets as restructuring measures were expected to pay off and on "stable demand in the passenger business."
Full-year operating profit "is predicted to be higher than the 524 million euros achieved last year," Lufthansa said.
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