Trends - Lufthansa - Business Recorder

Business & Finance

Lufthansa has cut losses to a million euros every two hours, says CEO

The group last year received a 9 billion euro bailout in which the German government took a 20% stake.

Published 21 Jan, 2021 09:46pm

Business & Finance

Lufthansa reaches deal with Eurowings on jobs

Some 2,000 ground staff and cabin crew at Eurowings will have their jobs secured until March 31, 2022.
The trade union is also in talks about the possibility of Eurowings recruiting employees who lost their jobs at Lufthansa.

Published 18 Jan, 2021 06:32pm

Business & Finance

Airlines cull South Africa routes as virus flares

A growing list of countries are limiting travel to and from South Africa since a more transmissible variant of the virus, dubbed 501Y.V2, was announced in December.
Emirates this week announced a 13-day halt on all South Africa routes for "operational reasons".

Published 15 Jan, 2021 09:28pm

Business & Finance

German airline Lufthansa reaches deal with pilots on cost savings

Like its rivals, Lufthansa is struggling to deal with global travel restrictions and grounded fleets in the wake of the coronavirus pandemic.
Lufthansa is ruling out layoffs of pilots for operational reasons at Lufthansa, Lufthansa Cargo, Lufthansa Aviation Training and a subgroup of Germanwings pilots until March 2022.

Published 23 Dec, 2020 06:23pm

Business & Finance

Lufthansa lifts convertible bonds offering to 600mn euro

Germany's flagship carrier lifted an offering of 2025 senior unsecured convertible bonds.
The airline, which is reeling from the impact of the coronavirus pandemic on travel.

Published 10 Nov, 2020 06:05pm

Business & Finance

Lufthansa to start rapid pre-flight coronavirus tests in Germany

Only those testing negative or able to provide evidence of a negative test within the previous 48 hours will be allowed to board.
The carrier will use the tests for two daily flights between Munich and Hamburg from Nov. 12 onwards to see how the test procedure can be included in the pre-flight routine.

Published 06 Nov, 2020 07:52pm

Business & Finance

Lufthansa braces for 'challenging' winter on 2bn euro loss

Losses were reduced due to "strict cost savings and the expansion of our flight programme" in the summer months, Spohr said.

Published 05 Nov, 2020 06:01pm

Business & Finance

Lufthansa braces for very slow recovery in passenger demand

First-quarter capacity is expected to be up to 25% of pre-crisis levels, unchanged from the current quarter and well short of the 50% previously envisaged by the end of this year.
Business customers, traditionally the carrier's cash cow, remain a rarity but are returning on the carrier's China routes.

Published 27 Oct, 2020 07:13pm

Business & Finance

Lufthansa steps up cuts to fleet and staff as outlook dims

Will reduce fleet by 50 more planes than planned.
Smaller fleet will lead to more job cuts.
Will take 1.1 bln euro writedown in third quarter.

Published 21 Sep, 2020 11:58pm

Business & Finance

Lufthansa to cut leadership positions, 1,000 admin jobs

Lufthansa said it would also cut the investment volume for new aircraft in half, with its financial plan allowing for up to 80 new aircraft for the group's fleet up to 2023.
Lufthansa already decided in early April to reduce its fleet by 100 aircraft and not to resume the operations of budget unit Germanwings.

Published 07 Jul, 2020 06:21pm

Business & Finance

Lufthansa says it has not yet reached agreement with unions on crisis package

The bailout is also being complicated by shareholder Heinz Thiele, who owns a 15.5% stake and says the state.
Thiele could abstain from the June 25 vote, veto the package, or take legal action afterwards, local media reports say.

Published 23 Jun, 2020 05:49pm

Markets

Lufthansa shares down on bailout standoff with shareholder

The stock was down 5.2% at 1101 GMT, as billionaire investor Heinz Hermann Thiele met senior government officials at the finance ministry.
Thiele, who holds 15.5% of the group, objects to bailout terms that would see Germany acquire a 20% stake and bo

Published 22 Jun, 2020 05:48pm

Business & Finance

German govt moves to rescue Lufthansa bailout

The clock is ticking as Lufthansa shareholders are voting Thursday on a rescue plan that would see Berlin take a 20-percent stake in the company.

Published 22 Jun, 2020 05:20pm

Business & Finance

Lufthansa warns rescue threatened as billionaire weighs in

"The management board urgently appeals to all... shareholders to exercise their voting rights," the company added.

Published 17 Jun, 2020 05:21pm

World

Lufthansa says up to 26,000 employees at risk of losing jobs

Positions of up to 26,000 employees are surplus to requirements,

Published 12 Jun, 2020 02:22am

Business & Finance

Pandemic-hit Lufthansa says 22,000 jobs to go

"The recovery in demand in the air transport sector will be slow in the foreseeable future," the airline said.

Published 11 Jun, 2020 04:17pm

Business & Finance

Lufthansa says up to 26,000 employees at risk of losing jobs

A Lufthansa spokeswoman said the airline estimates that it has a surplus of 22,000 full-time equivalent positions or 26,000 employees.

Published 11 Jun, 2020 10:40am

Business & Finance

Cathay Pacific unveils US$5 billion bailout plan

Cathay also found itself punished by Beijing last year when some of its 33,000 employees expressed support for Hong Kong's pro-democracy protests.

Published 09 Jun, 2020 04:54pm

Markets

Germany's beleaguered Lufthansa to quit Frankfurt's Dax 30

Lufthansa said it would undergo "far-reaching" restructuring as it posted a first-quarter net loss of 2.1 billion euros ($2.3 billion) on Wednesday.

Published 05 Jun, 2020 02:43am

Business & Finance

Lufthansa vows extensive revamp as losses balloon

Brussels Airlines will reduce its fleet by 30pc and its workforce by 25pc while Austrian Airlines' fleet and personnel costs are to be cut by 20pc.
The sale of non-core operations is also on the cards in the medium term, the group said, having postp

Published 03 Jun, 2020 06:12pm