Lufthansa posts 507mn euro loss

BERLIN: German flag carrier Lufthansa said Wednesday it posted a net loss of 507 million euros ($755 million) in the first quarter after 292 million euros in charges related to hedging its fuel costs.

In the first quarter of 2010, the airline recorded a net loss of 298 million euros. Its operating income improved however to a profit of 103 million euros from a loss of 227 million euros in the year-earlier period.

Lufthansa revenues rose too, to 6.4 billion euros from 5.8 billion euros, and it stuck to its full-year forecast, saying it still expected a year on year increase in both revenues and in its operating result.