Lufthansa, Europe’s second biggest airline, has said it will proceed with takeovers of Belgian and UK carriers by early next month after settling antitrust issue and transaction terms. Lufthansa aims to complete the purchase of 45 per cent of Brussels Airlines in June, and is sticking to plans for complete control by 2011, following European Union approval after the carriers agreed to scale back services on three German routes serving Brussels as well as Brussels-Zurich flights to … [Read more...] about EUROPE & CIS: Lufthansa proceeds with Belgian, BMI purchases
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DHL and Lufthansa launch new cargo carrier
In a bold but largely unvoidable move, a new cargo airline has taken flight in what is arguably the harshest air cargo environment in the history of air cargo. AeroLogic, the new child of global heavyweights DHL Express and Lufthansa Cargo officially started operations out of its Leipzig, Germany hub Friday after two years of extensive planning. The all-cargo carrier is a unique joint venture that sees the capacity of what will ultimately be an eight-plane fleet of 102-tonne B777 freighters … [Read more...] about DHL and Lufthansa launch new cargo carrier
Aeroflot expands China capacity with latest MD-11F
For most air cargo carriers, taking delivery of another aircraft in this current environment means an extra capacity burden and all the headaches that go with it. But for Russian cargo carrier Aeroflot Cargo, the addition of its latest MD-11 converted freighter has not been so much of problem in terms of filling it, but rather the poor yields that are an unfortunate feature of the market now. “We just increased our frequencies from Russia to China – Bejing and Hong Kong … [Read more...] about Aeroflot expands China capacity with latest MD-11F
Lufthansa may walk away from BMI deal
Lufthansa has indicated it may walk away from its takeover deal for BMI, over the issue of capital restructuring, according to a Financial Times report. If successful it will own about 80 per cent of shares, but obstructing the deal is the issue of who will pay for the capital restructuring, with BMI management saying it's not needed. The German carrier is also said to be seeking up to €500 million in 'restructuring' aid. … [Read more...] about Lufthansa may walk away from BMI deal
Lufthansa projects rise in '08 profit
Lufthansa yesterday raised its full-year operating profit projection to €1.3 billion from the previous €1.1 billion. The carrier reported a €1.38 billion operating profit in 2007. Lufthansa said the increase in its forecast is "substantially attributable to a more stable result development in the fourth quarter than was previously expected." It cited falling fuel prices and "favorable valuation effects" without elaborating. … [Read more...] about Lufthansa projects rise in '08 profit
Lufthansa projects rise in ’08 profit
Lufthansa yesterday raised its full-year operating profit projection to €1.3 billion from the previous €1.1 billion. The carrier reported a €1.38 billion operating profit in 2007. Lufthansa said the increase in its forecast is "substantially attributable to a more stable result development in the fourth quarter than was previously expected." It cited falling fuel prices and "favorable valuation effects" without elaborating. … [Read more...] about Lufthansa projects rise in ’08 profit
