Lufthansa first quarter net loss up 57% as strike action takes its toll, plans to cut operating costs

Lufthansa Group has reported a net loss of €734 million for the first quarter of the year, a further 57% increase in its first quarter 2023 net loss of €467 million. Its earnings per share were down further in the negative at 61 cents from a loss per share of 39 cents in the first quarter last year. Its total revenue saw a 5% increase at €7.4bn, up from €7.01bn in the first quarter last year. It recorded an operating loss of €849 million, a sharp increase in its operating loss of €273 million euros in the first quarter last