Europe’s largest airline company that moves the most number of people in the continent, reported marginal financial earnings for the first quarter of 2010, posting a material EUR 298-million.

The company’s revenue was up by 16-percent in the quarter to EUR 5.8-billion, compared to the same period last year where the company had total revenues of $5.8-billion

In Q1 ’10, Lufthansa reported an operating loss of EUR 300-million, compared to a smaller EUR 44-million loss in Q1 ’09.

The company says the massive losses this quarter are “from the first-time consolidation of Austrian Airlines and bmi, higher fuel costs, and non-recurring effects such as the burden due to the extreme winter and to the strike by cockpit staff.”

Lufthansa said the pilot labour strike alone contributed to EUR 50-million in lost revenue.

The Q1 2010 report will be published tomorrow by the company.

The Lufthansa stock (LTR:LHA) is down more than 4.30-percent.