Lufthansa Group has reported a first quarter net loss of €342 million widened from the €39 million experienced in the same period a year prior. The group has blamed the earnings decline on an increase of €202 million in fuel costs and a deterioration in unit revenues in Europe. A continued reduction of unit costs could only partially offset the decline, the company said. Lufthansa expects to see substantially improved trends in the rest of the year. “Overcapacities, especially on short- and medium-haul European routes, substantially depressed our first-quarter earnings,” says Ulrik Svensson, chief financial officer at Deutsche Lufthansa. “We

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