Lufthansa sees return to profit this quarter

STORY: It looks like travellers have finally returned to the skies after two years of lockdowns and restrictions.

That was the impression given by Lufthansa on Thursday (April 5).

The German carrier said it aims to return to an operating profit this quarter as demand for travel rises.

It comes as global authorities ease health crisis curbs, and as airlines raise ticket prices to offset higher costs.

The group - which owns Lufthansa and Eurowings among others - doubled sales during the first quarter.

Although an overall first-quarter operating loss was bigger than analysts had expected.

The airline reported revenue doubled in Q1 from a year before to around $5.7 billion.

But it was not able to reduce losses as much as hoped due to higher fuel prices brought on by Russia’s war in Ukraine.

Lufthansa’s adjusted loss before interest and taxes came in at about $624 million.

Analysts had forecast a smaller loss of $588 million.

The airline said it hopes to be able to pass some of the rising costs to customers with price hikes for flight tickets.

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