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Lufthansa Q1 loss widens 149.7% YOY

Deutsche Lufthansa AG said its normalized net income for the first quarter amounted to a loss of 12 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 18 cents per share.

The per-share loss widened 146.5% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €57.8 million, compared with a loss of €23.1 million in the prior-year period.

The normalized profit margin dropped to negative 0.8% from negative 0.3% in the year-earlier period.

Total revenue increased 11.2% year over year to €7.69 billion from €6.92 billion, and total operating expenses climbed 11.0% from the prior-year period to €7.70 billion from €6.94 billion.

Reported net income came to a loss of €70.3 million, or a loss of 15 cents per share, compared with a loss of €9.3 million, or a loss of 2 cents per share, in the prior-year period.