Lufthansa reported a significant loss for the first three months of the year and said restructuring was necessary as its results were 'significantly impacted' by the Covid-19 pandemic.
Ralph Orlowski | Reutersreported a significant loss for the first quarter and said restructuring was necessary as its results were "significantly impacted" by the Covid-19 pandemic.
The German airline reported a net loss of 2.1 billion euros for the first three months of the year on Wednesday. This compared to a loss of 342 million euros the year before. The coronavirus crisis has brought severe economic difficulties for many airlines, including Lufthansa. The company agreed to hand over
slots to competitors at Frankfurt and Munich airports in exchange for 9 billion euros in support from the German government.Shares of the airline are down more than 42% year-to-date.
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