FRANKFURT, April 25 (Reuters) – Ferdinand Piech, a towering
figure at Volkswagen for more than two decades,
resigned as its chairman on Saturday after losing a showdown
with Chief Executive Martin Winterkorn.
Piech, the 78-year-old grandson of the inventor of the
Volkswagen Beetle, had previously seen off other executives who
crossed him, including his hand-picked successor as Volkswagen
CEO, Bernd Pischetsrieder.
BERLIN, March 29 (Reuters) – The co-pilot suspected of
crashing a passenger jet in the Alps may have been suffering
from a detached retina but investigators are unsure whether his
vision problems had physical or psychological causes, a German
newspaper said on Sunday.
Bild am Sonntag also reported how the captain of the
Germanwings Airbus had screamed “open the damn door!”
to the co-pilot as he tried to get back into the locked cockpit
before the jet crashed last Tuesday, killing all 150 on board.
FRANKFURT, March 20 (Reuters) – Lufthansa
cancelled almost half of its lucrative long-haul flights
scheduled for Saturday as pilots planned a fourth straight day
of walkouts in a protracted row over early retirement benefits
and cost cuts.
Lufthansa wants to cut spending to levels nearer those of
its rivals. It is squeezed by budget carriers Ryanair
and easyJet on European routes and by airlines such as
Turkish and Emirates on long-haul flights.
FRANKFURT/BERLIN (Reuters) – Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) has canceled 750 flights or about half the total due to a strike planned by pilots for Wednesday, affecting thousands of passengers in a long-running dispute over early retirement benefits and plans to expand budget flights.
The German airline is trying to cut costs and renegotiate expensive labor agreements as it tries to compete with low-cost carriers and rivals such as Emirates and Turkish Airlines, but its efforts have been resisted by pilots who staged 10 strikes last year.
FRANKFURT, March 12 (Reuters) – ECB policymaker Jens
Weidmann put the onus squarely on governments on Thursday to
decide whether they wanted to cover Greece’s funding needs,
saying this was “less than ever” a task for the euro zone’s
Rejecting the Greek finance minister’s characterisation of
ECB policy towards Athens as “asphyxiating”, Weidmann said
Greece had lost a lot of trust and that he did not see the
country regaining access to capital markets by mid-year.
BERLIN, March 6 (Reuters) – Iranian businessman Cyrus
Etemadi has had a stand at Berlin’s ITB travel trade fair every
year for more than 20 years, even when tension with the West
meant few tourists visited the former ancient kingdom of Persia.
As the pragmatic President Hassan Rouhani, successor to
hardliner Mahmoud Ahmadinejad, tries to reverse the path of
antagonism to the West, Etemadi hopes he can rebuild his tour
business, Cyrus Sahra, to its former strength.
BERLIN, March 6 (Reuters) – German airline Condor, owned by
tour operator Thomas Cook, plans to meet competition
from Lufthansa’s proposed low-cost long-haul operation
head-on, its chief executive said.
Lufthansa said this week that it would start long-haul
budget flights to tourist destinations in the likes of Cuba and
Thailand under the Eurowings banner from the autumn, but Condor
CEO Ralf Teckentrup is confident that his company’s tourism
expertise will ensure it continues to compete.
BERLIN (Reuters) – Travel and tourism companies are looking forward to a solid year in Europe thanks to recovering economies and a fall in oil prices.
Many recent economic data reports have beaten expectations and signs of a long-awaited recovery in Europe are starting to show through in the profits of leading global companies.
FRANKFURT/HAMBURG, Feb 13 (Reuters) – Germany’s Beiersdorf
, the owner of the Nivea skin cream brand, expects its
sales growth to accelerate in 2015 thanks to increased market
share and resilience in emerging economies.
Beiersdorf has reorganised its business, redesigning the
Nivea logo, focusing on emerging markets and stripping out
underperforming lines to regain ground from rivals such as
FRANKFURT (Reuters) – An experimental spaceplane successfully returned to Earth on Wednesday after a 100-minute test flight that the European Space Agency (ESA) hopes will pave the way for the continent’s first reusable space transportation systems.
Reusable spaceplanes that can carry out controlled landings on runways rather than splashing down in the ocean could help bring down costs. They could also enable scientists to bring back samples from celestial bodies such as comets.