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Lufthansa swings to first Q1 profit since 2008
April 27, 2017 / 5:39 AM / in 8 months

Lufthansa swings to first Q1 profit since 2008

BERLIN, April 27 (Reuters) - Germany’s Lufthansa swung to a profit in the first quarter, driven by improved demand at its air freight division and maintenance unit, and said on Thursday it was seeing improved price trends at its airlines.

The group reported adjusted earnings before interest and tax of 25 million euros ($27 million), against a loss of 53 million a year ago and against expectations for a loss of 26.6 million in a Reuters poll.

It was the first time Lufthansa has made a profit in the first quarter of the year, typically a weak quarter for airlines, since 2008.

Despite the strong start to the year, it confirmed a forecast for underlying earnings to fall only slightly this year from last year’s 1.75 billion euros. ($1 = 0.9169 euros) (Reporting by Victoria Bryan; Editing by Georgina Prodhan)

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