German airline giant Lufthansa reported a hefty first-quarter loss Monday and downgraded its 2024 outlook due to recent strikes, while warning of risks from conflict in the Middle East.
Adjusted operating losses came in at 849 million euros ($902 million), according to preliminary results.
While the start of the year is typically a quieter period for travel in Europe, the results were still far worse than a loss of 273 million euros in the same period last year.
“The loss was higher than expected due to various strikes,” said Lufthansa, one of Europe’s biggest airline groups, adding that the walkouts had slashed earnings by hundreds of millions of euros.
Lufthansa — whose carriers include Lufthansa, Eurowings, Austrian, Swiss …