In a recessionary economic environment the Lufthansa Group generated revenue of EUR 5.0v bn (previous year: EUR 5.6bn) in the first quarter 2009. The operating result of EUR -44 million (previous year: EUR 172 million) stems from a weak demand for passenger and freight flights, but also from the lower price of fuel and from one-off effects. The net loss for the period was EUR -256 million (previous year: EUR 44 million). Last year's figures have been restated in line with valuation changes under IFRIC 13 (Customer Loyalty Programmes).
In the absence of signs that demand will recover in the short term, a decline in revenue is also expected for the full year, which will be accompanied by a considerable reduction in the operating result. The Executive Board nevertheless still expects to earn a clearly positive operating result even in this environment.
