Lufthansa reports sales of ME 7392 for the 1st quarter 2024, up 5% year-on-year.

However, the company recorded a sharp deterioration in adjusted EBIT, which rose from -273 ME to -849 ME in the space of twelve months.

As a result, Lufthansa posted a loss of ME 734 in Q1 (higher than the consensus forecast), after a loss of ME 467 in Q1 2023. EPS came to -0.61 euros, compared with -0.39 euros a year earlier.

We cannot be satisfied with the operating result for the first quarter," says Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa AG, pointing in particular to "the various strikes" which had "a significant impact on [the] result".

We will further strengthen our balance sheet and work intensively over the coming months to offset the effects of rising costs. We have taken additional measures to this end, in particular at Lufthansa Airlines, which has been hard hit by the increase in personnel expenses and costs', says the executive.

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