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Latest Articles in lufthansa

Lufthansa Plans Compulsory Lay-Offs As Forecasts Travel Slump To 2024

The sharp drop in passenger numbers pushed Lufthansa to a quarterly adjusted operating loss of 1.7 billion euros, the worst performance in its 65-year history.

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Lufthansa To Cut Leadership Positions, 1,000 Admin Jobs

Lufthansa already decided in early April to reduce its fleet by 100 aircraft and not to resume the operations of budget unit Germanwings.

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Lufthansa Shares Soar After Major Shareholder Backs Bailout Plan

The company struck a cost savings deal overnight with a union representing German flight attendants that would reap more than 500 million euros in savings.

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Lufthansa Warns Of Threat To Its $10 Billion Bailout Deal

Lufthansa's biggest shareholder, German billionaire Heinz Hermann Thiele, criticised the 9 billion euro ($10.1 billion) bailout, saying he had raised his stake in Lufthansa to over 15% and hoped alternative options could be explored.

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Germany Stamps Authority On Lufthansa With $9.8 Billion Lifeline

The largest German corporate rescue since the coronavirus crisis struck will see the government get a 20% stake, which could rise to 25% plus one share in the event of a takeover attempt

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Cabin Crew Union Demands Lufthansa Bailout Safeguards Jobs

Lufthansa is in advanced talks over a 9 billion euro ($9.8 billion) bailout with the government, which would involve Germany taking a 20% stake in the airline, but UFO said the plan would not ensure workers' rights.

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Lufthansa In Advanced Talks For State Rescue Deal Worth About $10 Billion

The concept includes a 3 billion euro loan from the state-backed bank KfW and a convertible bond, which can be exchanged for a further 5% stake plus one share in the event of a public takeover offer by a third party.

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Lufthansa Group Plans To Resume Flight Services To India In June

The airline group plans to offer around 1,800 weekly roundtrips to more than 130 destinations worldwide.

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Germany To Take 25.1% Stake In Lufthansa

Of that total, 5.5 billion euros would be in the form of non-voting capital, for which the German government wants a coupon of 9%, the paper said.

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Crisis-Torn Airlines Scramble To Convert Empty Cabins To Cargo

Lufthansa-owned Austrian Airlines has begun to remove most passenger seats in some 777s, while Polish LOT and Delta Air Lines are also examining freight makeovers.

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Lufthansa May Seek Creditor Protection Alongside Berlin Rescue Talks

Lufthansa has subsidiaries in Austria, Switzerland and Belgium and its two German hubs, Frankfurt and Munich, are located in the state of Hesse and Bavaria.

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Lufthansa May Seek Creditor Protection Alongside Berlin Rescue Talks

Lufthansa's shares had risen as much as 12.1% earlier on Tuesday, which traders attributed to prospects of a rescue deal being close. They were 3.3% higher at 1115 GMT.

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No Rescue Deal Yet For German Airline Lufthansa

Shares in the airline were up 6.9% at 0655 GMT which traders attributed to prospects of a nearing deal amid time pressure to stem ongoing losses.

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Lufthansa, Air France-KLM Shares Rise On Bailout Progress

Lufthansa was up 7% in Frankfurt after a German minister said it would need to be supported, while Air France-KLM was 3.5% higher at 0829 GMT as investors digested a 7 billion euro

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Germany In Talks To Inject Billions Into Lufthansa

Lufthansa's sales from passenger flights to almost zero, but shorter working hours as well as lower fees for airports and air traffic control have brought down costs.

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