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Lufthansa narrows loss but remains cautious

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Further action is needed to lower costs, Lufthansa says
Lufthansa posted a smaller operating loss for the first quarter of 2015. But further action is needed to lower costs, it said, especially with a rising pension burden and staff-related expenses.
The airline’s adjusted loss before interest and tax for the quarter was €167 million, a result helped by cheaper fuel costs. But its pension provisions ballooned to €10.2 billion.
Lufthansa Group was hit by the fatal crash of a plane in its low-cost Germanwings subsidiary at the end of March. It also wants to end a long-running dispute with its pilots. It confirmed its target for earnings before interest and tax for 2015 at more than €1.5 billion, but its tone on 2015 profit expectations was cautious.
Reuters
[pictured: Lufthansa Boeing 747-8; courtesy Lufthansa]

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