‘How long can the pain continue?’ Consumer confidence falls again Economics Consumer confidence has fallen to its lowest level in more than two years, as fears grow that the UK economy could be ravaged by soaring inflation caused by the Iran war. A closely-watched survey conducted by research firm GfK found consumer confidence dropped by four points to -25 in April. The index is another warning [...]
Airlines face five-week cliff edge before fuel shortages could ground flights Aviation Britain’s airlines face significant disruption in a matter of weeks if the war in Iran continues throughout April, as a global jet fuel shortage has already forced carriers in Asia to slash service levels in a bid to manage supplies. Major UK-based carriers have said that they have between five and six weeks’ worth of [...]
Lufthansa in talks with investors over sale of aircraft maintenance business LUFTHANSA Lufthansa is reportedly in talks to sell a stake in its aircraft maintenance business, Lufthansa Technik. According to Reuters sources, the airline is to offload between 20 and 30 per cent of its stake and was attracting more interest from financial investors than rival firms. The airline is also expected to commence talks with private [...]
Lufthansa returns private as Berlin offloads remaining stake September 14, 2022 Lufthansa has announced its return to private ownership after the German government sold its remaining 20 per cent in the carrier. “This brings the stabilisation of Lufthansa to a successful conclusion,” said chief executive Carsten Spohr. “Lufthansa is once again fully in private hands.” During the pandemic, the company was saved from bankruptcy by a [...]
Lufthansa averts two more days of strikes following deal with pilots September 6, 2022 Lufthansa has averted an additional two-day strike after it reached a deal with the pilots’ union. The VC union called off the walkout which was scheduled for tomorrow and Thursday, saying the two parties had set the basis of a comprehensive package of measures – both monetary and structural – which will be laid out [...]
Worst is over for Lufthansa, says board member August 7, 2022 The worst is over for German airline Lufthansa after staff shortages caused flight chaos over the summer, but levels of sick leave remain challenging, board member Christina Foerster told newspapers in the Funke Media group. Airlines across Europe have struggled to cope with a strong rebound in holiday season demand after the COVID-19 pandemic stopped much [...]
Lufthansa to offset fuel prices following bigger than expected quarterly loss May 5, 2022 Lufthansa said it will offset higher fuel prices in the second quarter of 2022 after it delivered a bigger than expected loss in the first one. Despite narrowing its adjusted loss before interest and taxes from €1.05bn to €591m, the airline’s losses were still higher than the company-provided analyst consensus of €558m. The carrier said [...]
Lufthansa’s boss ‘open to all options’ on ITA equity stake March 31, 2022 Lufthansa is open to all options regarding an equity stake in Alitalia’s successor ITA Airways, the German carrier’s boss Carsten Spohr said this morning. Spohr told reporters Lufthansa, who had partnered with logistics giant MSC for the possible takeover, would be an ideal partner. The chief executive’s comments come less than a month after he [...]
Lufthansa suspends all fights to Ukraine amid invasion fears February 20, 2022 Lufthansa has announced it will be suspending all flights to the Ukraine capital Kyiv from tomorrow as fears of a Russian invasion grow. The German airline said it will also stop flights to Odessa, a key port city on the Black Sea. The response contrasts to the Irish budget airline Ryanair and the Hungarian Wizz [...]
MSC goes in for majority stake in ITA, telling ‘the Germans’ to settle for minority share January 27, 2022 Shipping giant MSC has made clear it wants a majority stake in the takeover of Italian airline and Alitalia successor ITA Airways, leaving Lufthansa with a minority share of the company. “The most important thing for us is to have a majority share in ITA Airways. The Germans can come in as a commercial partner [...]