Lufthansa predicts summer travel boom after Q1 loss

German airline Lufthansa expected strong demand for holiday travel this summer, while it reported a loss in the first quarter to reach €7.02 billion revenues, though the figure fell short of consensus for 7.57 billion, Reuters reported on Wednesday.

The company said that it still expects to post a significant year-on-year improvement in adjusted earnings before interest and tax (EBIT), which will help it reach its full-year 2023 targets.

Lufthansa Group revenue of €7 billion in the first three months of the year was some 40 percent higher year on year but down by around €800 million from 2019.

Notably, with capacity expected to be around 82 percent of pre-Covid levels in the second quarter, yields are forecast to be 25 percent higher, having been up 19 percent in the first three months of the year.