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            august 26, 2019

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Lufthansa reports first quarter weak profit growth to US$32 million


German flag carrier Lufthansa said costs to expand its Eurowings budget carrier held back profit growth in the first quarter of the year, and it lowered its forecast for 2018 capacity growth, Reuters reported.
Lufthansa reported slight rise in adjusted earnings before interest and tax (EBIT) to EUR26 million (US$32 million), far short of the EUR81.3 million forecast by analysts in a Reuters poll.
Lufthansa is rapidly growing its Eurowings brand to fill the gap left by the collapse of Air Berlin.
Lufthansa said one-off costs from integrating parts of Air Berlin pushed Eurowings to an adjusted loss of EUR203 million in the first quarter and said one-off expenses will continue to weigh in coming months.

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