Lufthansa hits Q1 turbulence from rising fuel costs eNCA
BERLIN - Shares in Lufthansa tumbled as markets opened on Tuesday before rebounding, after Europe's largest airline group blamed a steep first-quarter operating loss on rising fuel prices.
Late Monday the Frankfurt-based group had issued preliminary first-quarter results, revealing an adjusted operating loss of 336 million euros. Lufthansa recalled that in their 2018 annual report they had already warned"earnings for the first quarter of 2019 were likely to be down" from the previous year.
"Unit revenues for the period were down significantly" at both its traditional carriers and low-cost arm Eurowings, it said, adding that"market-wide overcapacities in Europe" squeezed fares.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The cost of shifting away from fossil fuels no longer costs the earthGreen energy costs are falling, the International Renewable Energy Agency says
Read more »
Are execution-style hits on the rise in South Africa?Experts say in many cases it's clear specific people are being targeted.
Read more »
Are execution-style hits on the rise in South Africa?Experts say in many cases it's clear specific people are being targeted.
Read more »
'Fake news' fuelling ethno-religious crisis in Nigeria: expertsAfrica's most populous nation is often characterised as teetering on the brink.
Read more »
Elemental power is fuelling a new world order | News | Environment | M&G🔒 Controlling oil has meant invasions, such as the United States’ attacks on Iraq in 1990 and 2003. In South Africa, mining for coal has forced people off their land in Mpumalanga, Limpopo and KwaZulu-Natal.
Read more »
Claims that fake news is fuelling ethno-religious crisis in NigeriaInformation minister says misinformation and hate speech threaten the peace, unity, security and corporate existence of Nigerians
Read more »
Fuel rods removed from Japan’s battered Fukushima nuclear plantAssemblies from a second reactor placed in a specially designed steel cask by remote-controlled cranes for transfer to the ground
Read more »