News / Lufthansa faces cargo restructure as Q1 profits nosedive €70m into the red

03/05/2016

Lufthansa could restructure its cargo business this year, following poor first-quarter results, which saw its Logistics division make an EBIT loss of €19m, compared with a positive €52m last year.

“Lufthansa Cargo is under severe pressure,” said CFO Simone Menne. “We only expect earnings to improve again in the fourth quarter, hit hard by strikes last year.”

Logistics, which includes the cargo arm, Aerologic joint-venture and ULD lessor Jettainer, was the only division to fail to meet earnings expectations.

Talking to analysts in an ...