Lufthansa said it will offset higher fuel prices in the second quarter of 2022 after it delivered a bigger than expected loss in the first one.
Despite narrowing its adjusted loss before interest and taxes from €1.05bn to €591m, the airline’s losses were still higher than the company-provided analyst consensus of €558m.
The carrier said that prices will be offset as “the pandemic subsides [and] families, friends and business partners” restart travelling.
“I don’t see any problem with price increases affecting demand. Over the last six months, we have already pushed through a couple of price hikes,” chief financial officer Remco Steenbergen told journalists.
“We live in a world where we see incredible inflation and price increases.”
For the three months ended 31 March, Lufthansa’s revenues doubled compared with 2021 levels, going up to €5.36bn.
Commenting on the results, travel expert Rob Staines said: “It’s really encouraging to see losses have significantly reduced, schedules are returning and load factors increasing with overall passenger numbers quadrupling.
“There are hurdles ahead with record fuel costs, political unrest and some key markets still shut down but this is a positive step towards recovery.”