Updated March 29, 2019 07:59:21The first-quarter profit on international routes fell sharply, with a number of major airlines cut back on the number of flights they will take, the airlines said Thursday.
The first quarter of 2019 was the third-straight quarter of falling domestic airline profit.
That’s because of a number more problems on the domestic front, like a lack of demand in the economy, a slowing economy, and the fact that U.N. sanctions against Iran have made it harder for airlines to fly in the region, said John P. O’Leary, chief executive of Lufthansa Group and chief executive officer of United Airlines.
Lufthanese airline Lufah said in a statement it will reduce the number and number of domestic flights in the U.K. and Ireland by as much as 30 percent.
United Airlines, the largest U.A.E. airline by revenues, is reducing its number of departures to just five a week, down from 10 in the fourth quarter.
United, a major U.M.B.A., said it plans to reduce its total international revenue to $1.2 billion from $2.5 billion for the same period.
United said it will add a second aircraft, the first to be delivered in 2019.
Luxembourg’s Lufa said it has cut its global revenue by nearly a third and is reducing capacity on its main routes to 40 percent of its capacity in the next five years, according to a statement.
The U.C.C., a unit of the French state oil company Total, said it expects to make a record loss of $8.1 billion in the second quarter, according the Bloomberg terminal news service.
The company said it would take a $1 billion charge for the loss.
Lavrov, who is scheduled to attend the United Nations General Assembly this week, has said he will make the U-turn on sanctions.
His foreign minister, Sergey Lavrov, said on March 30 that the U,S.
and Russia would have to come to a common understanding about how sanctions are being imposed.
“The U-Turn is necessary, but not sufficient,” he said.
Livni, the Ukrainian president, is also expected to visit the United States in a bid to get a deal done.