German airline Lufthansa's adjusted operating profit, EBIT, amounted to minus 336 million euros or 3.5 billion SEK in the first quarter of 2019.

This compares with a profit of 52 million euros during the same period last year. 

Behind the loss in profits, which was announced on Monday evening, was, among other things, fuel costs that increased by 202 million euros. 

”"Market-wide overcapacity in Europe is also pushing prices down. The decline in earnings is underlined by the fact that the result for the first quarter of 2018 was particularly strong due to the bankruptcy of Air Berlin. Unit revenues for the period fell sharply at both Network Airlines and Eurowings," Lufthansa writes in a press release. 

For the full year 2019 Lufthansa still expects the adjusted EBIT margin to be in the range of 6.5-8 percent. 

Source: di.se