Lufthansa losses ugly. Is this a strategy in trouble? Board still upbeat on “positive demand trends”

Lufthansa lost EUR298 million in the first quarter of this year. Operating losses were EUR330 million, on revenues of EUR5.8 billion. The full results are not published until today; these will be of relevance only if they indicate a solid direction for yields for coming months. Competition on short haul routes is still intense and, with the exception of Asian markets, most airlines are indicating that there is nothing to confirm a revival of long haul markets.