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Lufthansa Q1 loss narrows YOY

Deutsche Lufthansa AG said its normalized net income for the first quarter amounted to a loss of 24 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 45 cents per share.

The per-share loss narrowed 46.8% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €112.3 million, compared with a loss of €210.3 million in the prior-year period.

The normalized profit margin increased to negative 1.6% from negative 3.3% in the year-earlier period.

Total revenue grew 7.9% year over year to €6.97 billion from €6.46 billion, and total operating expenses increased 6.5% from the prior-year period to €7.13 billion from €6.69 billion.

Reported net income came to €425.8 million, or 92 cents per share, compared with a loss of €253.6 million, or a loss of 55 cents per share, in the year-earlier period.