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Lufthansa reports net loss of 2.1 bn euros in first quarter

'Global air traffic has come to a virtual standstill in recent months. This has impacted our quarterly results to an unprecedented extent,' board chairman Carsten Spohr said in a statement.

FILE: This file photo taken on November 11, 2015 shows planes of German airline Lufthansa being parked at the airport in Frankfurt am Main, western Germany. Picture: AFP.

FRANKFURT AM MAIN, Germany - Lufthansa said it would undergo "far-reaching" restructuring as the airline posted a first-quarter net loss of 2.1 billion euros ($2.3 billion) on Wednesday, hammered by the global pandemic.

"Global air traffic has come to a virtual standstill in recent months. This has impacted our quarterly results to an unprecedented extent.

"In view of the very slow recovery in demand, we must now take far-reaching restructuring measures to counteract this," board chairman Carsten Spohr said in a statement.