Deutsche Lufthansa AG engages in the provision of passenger, freight, and cargo airline services. It operates through the following segments: Network Airlines, Eurowings, Logistics, Maintenance Repair Overhaul, Catering and Additional Businesses and Group Functions. The Network Airlines segment comprises Lufthansa German Airlines, SWISS, and Austrian Airlines. The Eurowings segment focuses on the growing market for european direct sales. The Logistics segment consists of scheduled airfreight activities of the Lufthansa Cargo group. The Maintenance Repair Overhaul segment is involved in the provision of maintenance, repair, and overhaul services for civilian commercial aircraft. The Catering segment is engaged in providing airline catering. The company was founded on January 6, 1926 and is headquartered in Cologne, Germany.
Deutsche Lufthansa AG ETR:LHA
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In the next phase of its broader restructuring, Lufthansa (ETR: LHA) said on Tuesday that it now plans on cutting around 1,000 administrative jobs and 20% of its leadership positions to combat the ongoing Coronavirus pandemic. Shares of the company are currently about 1% up on Tuesday. The £3.92 billion company is roughly 45% down year to date in the stock market. Learn more about value investing strategy. Lufthansa has an excess of 22,000 full-t...
In a statement on Wednesday, Lufthansa (ETR: LHA) warned that it might file for creditor protection if the majority shareholders do not vote in favour of the government bailout package on 25th June. The German airline recently reported £1.88 billion net loss in the first quarter. Shares of the company posted a 2.5% intraday loss on Wednesday. At £9.21 per share, Lufthansa is currently a little under 40% down year to date in the stock marke...
Austrian Airlines said on Sunday that it expects the company to be about 20% smaller in 2022. The airline is a subsidiary of the German flagship carrier, Lufthansa (ETR: LHA). Austrian currently has a workforce of 7,000 employees but anticipated that it will have to slash roughly 1,100 jobs in the upcoming years. In a statement last week, Austrian government announced the national airline to have received a £403.4 million bailout package that wil...
Lufthansa (ETR: LHA) said on Wednesday that its net loss ballooned to £1.88 billion in the first quarter. The company also pledged to ramp up its efforts on restructuring. Lufthansa’s financial results came only days after its supervisory board agreed to Brussel’s revised conditions for £8.10 billion government bailout. The air carrier said it will significantly cut costs in the upcoming months and warned that its earnings will take a massi...
In its latest announcement on Saturday, Lufthansa (ETR: LHA) said that its supervisory board has approved the European Commissions’ demands after minor adjustments in exchange for the green light for £8.10 billion government bailout. Lufthansa closed the regular session on Friday at £8.22 per share that marks an about 40% year to date decline in the stock market. Learn more about how to choose winning stocks. The air carrier’s supervisory board h...
Lufthansa’s (ETR: LHA) £8.1 billion government package met with turbulence on Wednesday as the airline’s supervisory board called the associated EU’s conditions unacceptable. Earlier in the day, Ryanair CEO had also vowed to appeal against the bailout package that he saw as a threat to fair competition. Shares of the company are currently about 3% down on Thursday. At £8.35 per share, Lufthansa is roughly 45% down year to date in the stock market...
Germany’s flagship air carrier, Lufthansa (ETR: LHA) recently struck an £8.05 billion bailout package with the government. The transaction is likely to complete in June. On Tuesday, however, Ryanair (LON: RYA) condemned the aid package calling it a threat to fair competition. Shares of the company are currently less than 2% up on Wednesday. At £10.85 per share, Ryanair is roughly 20% down year to date in the stock market. Learn more about...
Sources informed on Monday that management of the Europe’s 2nd largest air carrier, Lufthansa (ETR: LHA), and the German government have agreed on an £8.06 billion bailout. The preliminary deal, sources added, is targeted at helping the airline cushion the economic blow from the Coronavirus pandemic that has brought the global air travel to a near halt. Lufthansa said last week that hundreds of its aeroplanes will remain grounded until 2022...
In its announcement on Wednesday, Lufthansa (ETR: LHA) said that hundreds of its aeroplanes are likely to remain grounded until 2022 due to the ongoing Coronavirus pandemic that has brought the global air travel industry to a near halt. The company also highlighted that deeper layoffs in its catering and maintenance businesses may even turn into a necessity in the upcoming months to shore up finances and cushion the economic blow from COVID-19. T...
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