Lufthansa Group has blamed overcapacity in Europe and rising fuel prices for a first quarter loss of £290.4 million.
The group said unit revenues at its airlines, which include SWISS, Austrian Airlines and budget carrier Eurowings, fell ‘significantly’ in the first three months of the year.
It also saw a €202 million rise in fuel costs.
Its shares fell 5% this morning when its results were announced.
In the same period last year the airline group made a €52 million profit, however in the first three months of 2018 it benefited from the collapse of rival Air Berlin.
