Lufthansa loses money in H1, stands by outlook

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FRANKFURT, Germany (AP) — German airline Lufthansa AG recorded a net loss of 204 million euros ($270.01 million) in the first six months of the year as restructuring costs, fuel prices and slower business in Asia and the Middle East sapped earnings.

The company made a profit of 50 million euros in the year-ago period.

Nonetheless, Lufthansa said it was working to restructure and control costs and that it expected to meet its profit goal for the year.

Total revenue slipped 0.3 percent to 14.46 billion euros. The number of passengers fell 0.4 percent to 49.5 million but the number of flights fell by 5.1 percent as the company made more efficient use of capacity.

Lufthansa has struggled with competition from low-fare airlines within European and from Middle Eastern airlines on long-haul routes.

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