All Lufthansa articles – Page 15
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NewsLufthansa warns bailout under threat over shareholder tussle
Lufthansa has warned it might be unable to implement the €9 billion ($10 billion) financial support package agreed with the German government after the airline’s largest shareholder indicated he might vote against the package.
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NewsLufthansa job cuts to be spread across all units
Lufthansa Group’s planned 22,000 job cuts will affect 600 pilots, 2,600 flight attendants and thousands of roles in its maintenance and catering divisions, the company has revealed.
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NewsLufthansa to cut 22,000 jobs
Lufthansa Group has outlined plans to cut the equivalent of 22,000 full-time jobs, half of which will be in Germany, and operate 100 fewer aircraft as it recovers from the effects of the Covid-19 crisis.
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NewsLufthansa secures €600 million state aid package for Austrian
Austria’s government has agreed with Lufthansa Group a financial support package for Austrian Airlines worth €600 million ($667 million) to secure its future operation as a network carrier in Vienna
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NewsLufthansa chief indicates interest in future part-sale of MRO arm
Lufthansa Group chief executive Carsten Spohr is not ruling out a possible future part-sale of the airline’s MRO arm, but stresses that the group intends to remain the majority shareholder as the technical division is “close to our heart”.
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NewsLufthansa steps up restructuring as it confirms big jump in Q1 losses
Lufthansa Group has confirmed its earlier guidance that it made an adjusted EBIT loss of €1.2 billion ($1.3 billion) in the first quarter and warns it still expects around 300 aircraft to be parked next year.
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In depthEuropean carriers aim to cut their way through the crisis
While the short-term focus among European carriers has been on finding ways to survive the crisis and resume services, airlines have been quick to signal sizeable cuts to their operations with few expecting traffic to return to previous peaks before 2023
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NewsLufthansa Group urges shareholder support for aid package
Lufthansa Group’s supervisory board has given its approval to stabilisation measures offered by the German federal WSF fund, accepting the conditions attached by the European Commission. The company is formally recommending that shareholders similarly approve the measures during an extraordinary general meeting set for 25 June. “It was a very ...
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NewsLufthansa board approves revision to financial aid conditions
Lufthansa Group’s executive board has accepted European Commission commitments in order to secure a financial package negotiated with a federal German stabilisation fund. But the supervisory board must still back the commitments, after it previously withheld approval. The company claims the scope of the conditions “has been reduced” compared with ...
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NewsLufthansa board delays state aid approval over EU conditions
Lufthansa’s supervisory board has postponed pushing ahead with approving crucial state-supported funding because of European Commission conditions attached to the package.
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NewsLufthansa Group secures finance package from economic fund
Lufthansa Group has secured approval from the federal German government’s economic stabilisation fund, WSF, for a €9 billion financial package. Under the agreement the WSF will contribute up to €5.7 billion to Lufthansa’s assets including €4.7 billion in equity. The measure will be supplemented by a syndicated three-year credit facility ...
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NewsLufthansa Group nears deal for €9bn financing package
Lufthansa Group is holding advanced talks with the German economic stabilisation fund WSF for conditional assistance of up to €9 billion. The company says €3 billion of this assistance would take the form of a loan from bank KfW. Lufthansa Group says an agreement “has not yet been finalised”. It ...
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NewsLufthansa in talks over state role in €9bn rescue package
German carrier Lufthansa is continuing negotiations for a €9 billion stabilisation package from the German government’s Federal Economic Stabilisation Fund (WSF) as it bids.
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NewsLufthansa reluctant to accept state aid with conditions attached
Lufthansa Group is holding “intensive talks” with governments in Germany, Austria and Belgium about the provision of state aid to help its airlines survive the coronavirus crisis, but the company appears reluctant to accept any support that comes with conditions attached. In a speech to shareholders at Lufthansa’s annual general ...
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NewsLufthansa aims for autumn restart ‘at the earliest’
Lufthansa Group will remain grounded throughout the summer and does not expect a new market “balance” to be found until 2023, chief executive Carsten Spohr will tell the company’s annual general meeting on 5 May, in a speech pre-released on its website.
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NewsLufthansa in financing talks after disclosing Q1 loss of €1.2bn
Lufthansa Group is in talks with the home governments of its various airlines over financing support after revealing it expects to have posted a €1.2 billion ($1.3 billion) adjusted EBIT loss for the first quarter fo 2020.
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PodcastAirline Business podcast: What will industry look like when flying restarts?
With talk in some regions turning to how airline markets might open up again as coronavirus cases peak, Graham and Lewis examine the current state of the industry and where it might be heading. Among the topics considered, they look at Virgin Australia’s demise and the moral hazard faced by ...
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NewsLufthansa retires six A380s early for reduced post-crisis fleet
Lufthansa is prematurely phasing out six Airbus A380s as part of fleet cuts across the airline group in preparation for an operational restart with reduced capacity when the coronavirus crisis recedes.
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NewsLufthansa Group finance chief resigns citing health reasons
Lufthansa Group chief financial officer Ulrik Svensson has resigned from his position, citing health reasons. The German airline company has disclosed that he will step down on 6 April. It has not given any further details on the circumstances behind Svensson’s decision. He has served as the company’s finance head ...
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NewsLufthansa Group parks 700 aircraft in crisis response
Lufthansa Group is unable to predict how much its profit will fall this year as it confirmed a 95% capacity reduction to battle the coronavirus outbreak. “At present, no one can foresee the consequences,” notes chief executive Carsten Spohr in a statement accompanying 2019 earnings. “We have to counter this ...