April 23, 2020 / 3:34 PM / 3 months ago

BRIEF-Deutsche Lufthansa Q1 Adjusted EBIT Loss Widens To Around EUR 1.2 Billion

April 23 (Reuters) - Deutsche Lufthansa AG:

* DGAP-ADHOC: DEUTSCHE LUFTHANSA AG: LUFTHANSA GROUP PUBLISHES PRELIMINARY RESULTS FOR THE FIRST QUARTER AND PROVIDES OUTLOOK ON LIQUIDITY DEVELOPMENT

* Q1 REVENUE FELL 18 PERCENT TO 6.4 BILLION EUR

* GROUP EXPECTS CRISIS-RELATED ASSET IMPAIRMENTS AND NEGATIVE DEVELOPMENT OF VALUE OF FUEL HEDGES TO HAVE A FURTHER SIGNIFICANT NEGATIVE IMPACT ON GROUP PROFIT IN QUARTER

* ADJUSTED EBIT^1 IN Q1 OF 2020 AMOUNTS TO AROUND -1.2 BILLION EUROS (PREVIOUS YEAR: -336 MILLION EUROS)

* IT IS NOT POSSIBLE TO FORESEE WHEN GROUP AIRLINES WILL BE ABLE TO RESUME FLIGHT OPERATIONS BEYOND CURRENT REPATRIATION FLIGHT SCHEDULE

* EXPECTS A CONSIDERABLY HIGHER OPERATING LOSS IN Q2 COMPARED TO Q1 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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