Covid impact: Lufthansa reports net loss of 2.1 billion euros in first quarter

The German airline’s quarterly results have been impacted to an unprecedented extent

Lufthansa said it would undergo “far-reaching” restructuring as the airline posted a first-quarter net loss of 2.1 billion euros ($2.3 billion) on Wednesday, hammered by the global pandemic.

“In view of the very slow recovery in demand, we must now take far-reaching restructuring measures to counteract this,” board chairman Carsten Spohr said in a statement. (Reuters Photo)

“Global air traffic has come to a virtual standstill in recent months. This has impacted our quarterly results to an unprecedented extent.

“In view of the very slow recovery in demand, we must now take far-reaching restructuring measures to counteract this,” board chairman Carsten Spohr said in a statement.