|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||10.00 - 10.00|
|52-week range||5.50 - 11.80|
|Beta (5Y monthly)||1.55|
|PE ratio (TTM)||12.20|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||08 May 2019|
|1y target est||N/A|
ROME (Reuters) -Lufthansa hopes to develop Rome Fiumicino as a southern hub for the group and will focus on long-haul flights from the Italian airport to Northern and Latin America, group slides said on Friday. Lufthansa will buy a 41% stake in ITA Airways, the successor of former flagship carrier Alitalia, through a 325 million euro ($357.76 million) capital increase and is aiming to take full control of the airline in the future. "We will also build on ITA's established strength on routes to Asia, Northern Africa and the Middle East," Lufthansa CEO Carsten Spohr told analysts.
Lufthansa will take a 41% stake in ITA Airways by way of a 325 million euro ($358 million) capital increase that will flow directly to the Italian carrier, the German group said on Thursday. That ownership stake could be extended based on how well the airline performs in the coming year, Lufthansa CEO Carsten Spohr said.
Nikoleta Dodova is among a growing number of dissatisfied airline customers. Having bought her mother and niece airline tickets from Sweden to Macedonia last year, their flight was cancelled and they ended up at an airport over two hours away. Official data from regulatory agencies shows complaints against airlines have reached, or neared record levels in countries like Canada and Germany over the last year since COVID-19 restrictions lifted and travel restarted.
A southern hub will allow German group to tap lucrative transatlantic market and optimise European flight schedules
ROME (Reuters) -Lufthansa will take a 41% stake in ITA Airways by way of a 325 million euro ($358 million) capital increase that will flow directly to the Italian carrier, the German group said on Thursday. Lufthansa CEO Carsten Spohr met Italian Economy Minister Giancarlo Giorgetti in Rome on Thursday to finalise talks, which started in January but were extended beyond an initial deadline of April 24. "Today's agreement will lead to a win-win situation for Italy, ITA Airways and Lufthansa Group ... a stronger ITA will invigorate competition in the Italian market," Spohr said.
None of the Airbus A320neo planes in the Singapore Airlines group with Pratt & Whitney engines are currently grounded over a lack of spares, Leslie Thng, CEO of Scoot, the airline's low-cost subsidiary, said on Wednesday. The engines have been under scrutiny since Go Airlines (India) Ltd filed for bankruptcy protection this month, blaming "faulty" Pratt engines for the grounding of about half its 54 Airbus A320neos. Pratt, part of Raytheon Technologies says the claims are without evidence and divert attention from the airline's financial woes.
The European Union's top competition official on Wednesday said "all options" were on the table but did not indicate what her next steps could be after Lufthansa and SAS suffered a setback in Europe's second-highest court. The court also ruled in Ryanair's favour against pandemic state aid for SAS. EU Competition Commissioner Margrethe Vestager said she was analysing the rulings as a matter of urgency, aware of the uncertainty on the market.
Lufthansa suffered a setback on Wednesday after Europe's second-highest court sided with Ryanair and annulled a European Union competition regulator's decision clearing its state bailout. The court cited errors in the EU competition regulators' decision to approve the German government's 6-billion-euro ($6.60 billion) rescue package and said they also failed to provide incentives for a quick repayment. Lufthansa, which said it would decide on a further course of action after analysing the ruling, has already repaid the aid in full, which could limit any immediate impact of the ruling, although it could have consequences for future state bailouts.
FRANKFURT (Reuters) -German airline group Deutsche Lufthansa said it expected strong demand for holiday travel this summer to fill seats on its planes and help it reach its full-year targets. "The continuously strong demand gives us confidence for the coming months," finance chief Remco Steenbergen said on Wednesday. Lufthansa said it still expects to post a significant year-on-year improvement in adjusted earnings before interest and tax (EBIT) for the full year 2023.
Logistics billionaire Klaus-Michael Kuehne, Lufthansa's top shareholder, has no plans to raise his stake in the carrier to a 25% blocking minority, which would give him the power to veto major strategic decisions, he hold a German paper. Kuehne in September disclosed that he had increased his stake in Lufthansa to 17.5%, after the German government sold all its remaining shares in the airline, which it accumulated as a result of the COVID pandemic to keep the airline afloat. "It should remain at the current 17.5% for now," Kuehne, who is also the controlling shareholder of Swiss logistics firm Kuehne & Nagel and has a 30% stake in container shipping company Hapag-Lloyd, told Welt am Sonntag.
NEW DELHI (Reuters) -Lufthansa is hopeful of finalising the partial takeover of Italy's state-owned ITA Airways within days, an executive at the German carrier said on Thursday, describing talks with the Italian government as "very good." The two airlines agree on how to work together to win market share, Harry Hohmeister, head of global markets and network, Lufthansa Group Airlines, said at a New Delhi press conference to announce new flights to India.
Italy's Treasury and Germany's Lufthansa have agreed to extend exclusive talks over the sale of ITA Airways until May 12 from the previous deadline of April 24, a source close to the matter told Reuters on Monday. The source, speaking on condition of anonymity, said Treasury granted Lufthansa's request for extra time for the talks. Talks proceed in a "constructive manner", the source added.
Portuguese Prime Minister Antonio Costa welcomed the interest expressed by Lufthansa in the upcoming privatisation of flag carrier TAP, but promised a level playing field and a transparent process for all contenders. Speaking to reporters alongside visiting German Chancellor Olaf Scholz, Costa said the government will "shortly start TAP's privatisation and several companies have expressed interest, one of them Lufthansa". Added Scholz: "My impression is that something does fit well together here, but let us see how it turns out."
ROME (Reuters) -ITA Airways has worked out the main elements of a partial takeover deal with Lufthansa and hopes to announce it soon, the chairman of the state-controlled Italian airline said on Wednesday. Sources have previously said the German carrier is negotiating with Rome over the purchase of a 40% stake in ITA, valued at around 200 million euros ($218.82 million), with the idea of buying the rest at a later stage. "The course is set," he added, speaking on the sidelines of a presentation of a new aeroplane at Rome's Fiumicino airport.
At least three European airlines are laying the groundwork for potential bids for Portugal's flag-carrier TAP, sounding out local communications agencies and legal advisers as a new CEO prepares to take over, according to sources and media reports. Finance minister Fernando Medina said in February the government was doing preliminary work for the privatisation process. Lufthansa, Air France-KLM and British Airways owner IAG are seen as potential buyers.
DLAKY vs. SWRAY: Which Stock Is the Better Value Option?
The German flagship carrier hopes the move will allow it to focus more on its core airline business, with chief financial officer Remco Steenbergen saying profitability and capital returns could improve further in that area as a result. The company said it expects the deal to positively impact its operating margin and adjusted ROCE. The transaction is expected to close in the third quarter, Lufthansa and Aurelius said.
** Italy's government said negotiations were progressing with Germany's Lufthansa over the sale of a minority stake in ITA Airways, after the two companies jointly approved the Italian carrier's industrial plan. ** E-commerce firm JD.com Inc said it planned to spin off its property and industrial units and list them on the Hong Kong Stock Exchange, the latest revamp in the Chinese technology sector after a sweeping regulatory crackdown. ** CNH Industrial said that it had agreed to buy Hemisphere GNSS, a high-performance satellite positioning technology company, for $175 million to improve automation in its agriculture and construction businesses.
BRUSSELS (Reuters) -Lufthansa's final negotiations for the takeover of ITA Airways are focused on price given ongoing losses, Lufthansa CEO Carsten Spohr told journalists on Wednesday ahead of a meeting later this week with the Italian government to push forward talks. Late in January, the Italian Treasury said it had signed a letter of intent with Lufthansa over the sale of a minority stake. Spohr said a final deal was still some weeks, not days, away, but that it is expected to be decided by April 24.
DLAKY vs. SWRAY: Which Stock Is the Better Value Option?
European shares rose on Friday as hopes the U.S. Federal Reserve could adopt a measured approach to rate hikes lifted the technology sector, while miners extended their rally on growing bets for a demand recovery in China. Overnight, Atlanta Fed President Raphael Bostic favoured "slow and steady" rate hikes moving forward and a pause by mid- or late-summer. Policy meetings from both the Fed and the European Central Bank (ECB), and U.S. jobs data are scheduled for the next two weeks, while China's annual parliament session is on Sunday when Beijing will set its economic goals for the year.
By Geoffrey Smith
BERLIN (Reuters) -Lufthansa on Thursday said it would order 22 latest-generation long-haul aircraft with a total list price of $7.5 billion. The deal includes 10 Airbus A350-1000s, five Airbus A350-900s and seven Boeing 787-9s and the aircraft will be delivered from the mid-2020s onwards, the company said. Lufthansa is also in advanced negotiations to acquire further long-haul aircraft that could be made available at shorter notice, it added.
Carsten Spohr is to remain CEO of Lufthansa for another five years after the supervisory board agreed to extend his contract, the German flagship airline said on Thursday. The supervisory board also agreed to extend the contract of CFO Remco Steenbergen for another five years, through 2028, Lufthansa said in a statement. "They will be particularly important in securing a successful future for the Lufthansa Group," Supervisory Board Chairman Karl-Ludwig Kley said.
Airline claim that it was protecting the world’s future is latest ad to fall foul of ASA rules