German airline Lufthansa recorded a net loss of €204m in the first six months of the year as restructuring costs, fuel prices and slower business in Asia and the Middle East sapped earnings.
The company made a profit of €50m the same time last year.
Nonetheless, Lufthansa said it was working to restructure and control costs and that it expected to meet its profit goal for the year.
Total revenue slipped 0.3% to €14.46 billion. The number of passengers fell 0.4% to €49.5m but the number of flights fell by 5.1% as the company made more efficient use of capacity.
Fuel prices rose 1.3% after hedging measures the company uses to shield itself from price swings.
"The restructuring of the Lufthansa Group is gaining speed", chief financial officer Simone Menne said in a company statement.
Lufthansa has struggled with competition from low-fare airlines within European and from Middle Eastern carriers on long-haul routes.
For the second quarter, it said that net profit fell 43% to €255m as the company endured strike action from its employees. Revenue fell 0.7% to €7.83 billion.
