Lufthansa Group reported a narrower adjusted operating loss of 612 million euros for the first quarter of 2026, an improvement from 722 million euros a year earlier and better than analyst expectations of 659 million euros. Revenue rose 8 percent to 8.7 billion euros, marking a record for the period.
The results came amid surging jet fuel prices driven by the Middle East crisis, including the Iran war, which added 1.7 billion euros to the group’s 2026 fuel bill. About 80 percent of this year’s kerosene needs are hedged, but the airline anticipates further challenges from potentially reduced fuel availability later in the year. Fuel supplies at hubs remain secure through June.
Middle East tensions boosted demand as travelers rerouted through Lufthansa’s hubs, supporting passenger airlines and cargo operations. Lufthansa Cargo expanded capacity by 7 percent and lifted adjusted EBIT to 83 million euros from 62 million euros. Network Airlines’ adjusted EBIT loss shrank to 605 million euros, while Point-to-Point Airlines saw a slight decline to a 215 million euro loss.
The group cut 20,000 flights this summer to manage capacity amid fuel shortages and closed subsidiary Lufthansa CityLine in April. It maintained its full-year guidance for adjusted EBIT significantly above 2025’s 1.96 billion euros, planning to offset costs through higher ticket prices, network optimization, and savings. Shares rose 6 percent following the announcement.