Lufthansa sees earnings boost from strong summer travel

Lufthansa planes are seen parked on the tarmac of Frankfurt Airport, Germany June 25, 2020. REUTERS/Kai PfaffenbachQ1 adj EBIT loss 273 mln euros, in line with consensussaid it expected strong demand for holiday travel this summer to fill seats on its planes and help it reach its full-year targets.

"The continuously strong demand gives us confidence for the coming months," finance chief Remco Steenbergen said on Wednesday. Lufthansa said it still expects to post a significant year-on-year improvement in adjusted earnings before interest and tax for the full year 2023. For the first quarter, it posted an adjusted EBIT loss of 273 million euros , improved from a 577 million loss in the year-earlier period and broadly in line with analyst consensus for 279 million.

Revenues jumped 40% to 7.02 billion euros in the three months through March, though the figure fell short of consensus for 7.57 billion.

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