Lufthansa recorded operating loss of US$ 474 million in first quarter

German airline Lufthansa reported an operating loss recorded in the first quarter of this year stood at US$ 474 million, hit by US$84 million in restructuring costs.

The company explained that revenues increased only by 0.1% to US $ 8.687 million.

The average forecast of a Reuters poll pointed to an operating loss of US $ 391 million and revenues of US$ 8.702 million.

Europe’s biggest airline by sales confirmed its objective of an increase in operating income and revenue this year, thanks to the impetus provided by a restructuring program called SCORE.

SCORE was launched last year to boost operating profit to US$ 3.010 million in 2015, compared with US$ 685 million last year.