Lufthansa Cargo profits have almost doubled in the first quarter of 2018 while the Lufthansa Group managed to reduce losses by 16 per cent.

Earnings before interest and tax (EBIT) for the Logistics business segment, which includes Lufthansa Cargo increased by 97 per cent in the first quarter to €65 million with the adjusted EBIT margin rising by 4.3 percentage points to 10.1 per cent.

Revenue for the Logistics segment also increased by 12.7 per cent to €641 million.

Revenue tonne kilometres were up 4.6 per cent to 2.1 billion and available cargo tonne kilometres by 6.3 per cent to 3.1 billion, pushing load factors down 1.1 percentage points to 69 per cent.

Total revenue for the Lufthansa Group decreased by 0.7 per cent to €7.6 billion but losses were reduced 16.2 per cent to €57 million.