High fuel costs double Lufthansa loss

Lufthansa’s fuel costs have increased by almost 20% in 2012

Punishingly high fuel costs are the main reason for Lufthansa’s bigger than expected first-quarter loss, the airline says. Its operating loss for the period more than doubled to €381 million. It added that it was likely to hit its profit target only if the costs of a new restructuring plan are excluded. A full earnings report is published today.
Lufthansa’s fuel costs have increased by almost 20% in 2012 to €7.5 billion. A tough program of cost-cutting is being prepared and the German giant’s loss-making subsidiary Austrian Airlines will soon be restructured.
Reuters

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