Lufthansa Group’s Adjusted EBIT declines to EUR -336 million in the first quarter
Lufthansa Group’s Adjusted EBIT declines to EUR -336 million in the first quarter 2019
Deutsche Lufthansa AG reports an Adjusted EBIT of EUR -336 million for the first three months of 2019 (prior-year period: EUR 52 million). Among other factors, earnings for the period were reduced by a EUR 202 million rise in fuel costs. Market-wide overcapacities in Europe also put strong downward pressure on fares. The earnings decline is accentuated by the fact that first-quarter results for 2018 were particularly strong, owing to the capacity reductions deriving from Air Berlin’s demise. Unit revenues for the period were down significantly at both the Network Airlines and Eurowings.
In view of its favorable booking levels and a clear slowing of the market-wide capacity growth, Lufthansa Group expects unit revenues at constant currency to increase year-on-year in the second quarter. For 2019 as a whole, the Lufthansa Group still expects to report an Adjusted EBIT margin between 6.5 and 8.0 percent.
Deutsche Lufthansa AG will publish its detailed results for the first quarter of 2019 on 30 April 2019 at 7.00 a.m. CET, on www.lufthansagroup.com/investor-relations.
Person making the notification: Dennis Weber, Head of Investor Relations, Lufthansa Group