LONDON/FRANKFURT, April 21 (Reuters) – European airlines
could sue government agencies for grounding air traffic due to
safety fears over a volcanic ash cloud if they are not
compensated for losses by their own countries, some lawyers
Lawyers believe airlines, which industry body IATA says have
lost $1.7 billion in the crisis, could bring lawsuits against
government agencies, including bodies such as Britain’s National
Air Traffic Services (NATS), which played a crucial role in
closing the skies around the United Kingdom. [ID:nLDE63K0OF]
BERLIN, March 26 (Reuters) – The German government agreed to
eliminate some of German mail operator Deutsche Post AG’s
<DPWGn.DE> exclusive tax privileges, shrinking the edge it has
over rivals entering the market.
The Bundesrat upper house of parliament on Friday signed the
change in legislation by which Deutsche Post will lose its
exclusive right to avoid paying value added tax (VAT) from July
2010, countering speculation among some analysts that the
proposals would be rejected.
FRANKFURT, March 22 (Reuters) – Germany is ready to provide
1.1 billion euros ($1.5 billion) of funding to European
planemaker Airbus <EAD.PA> for the development of its A350
jetliner, a government official said, adding that only details
remained to be ironed out.
The comments come a day before the World Trade Organization
is due to make a ruling on state support for Airbus planes to
clarify rules on industrial subsidies, which are at the heart
of a transatlantic battle for industry dominance.
FRANKFURT, March 22 (Reuters) – Pilots at Lufthansa
<LHAG.DE> plan to go on strike again next month after failing to
resolve a dispute over pay and job security that already caused
a costly work stoppage in February, their union said on Monday.
The pilots will strike from April 13 to April 16, the
Vereinigung Cockpit (VC) union said.
WASHINGTON/FRANKFURT, March 19 (Reuters) – A surprise
Russian bid was reported in the works Friday for a
multibillion-dollar U.S. aerial-refueling fleet even as
Europe’s EADS <EAD.PA> sought three more months for a possible
bid of its own.
The fresh competitor is a joint venture due to be announced
by a U.S. defense contractor and United Aircraft Corp of
Russia, an aerospace consortium partly owned by the Russian
government, said John Kirkland, a Los Angeles-based attorney
representing the planned partnership.
WASHINGTON/FRANKFURT (Reuters) – Europe’s EADS <EAD.PA> is seeking three more months for a possible bid to build a multibillion-dollar U.S. aerial-refueling fleet, the Defense Department said on Friday.
The request sets up a possible head-to-head match that would pit EADS, the corporate parent of Airbus, against Chicago-based Boeing Co <BA.N>, its archrival in the commercial airliner market.
FRANKFURT, March 16 (Reuters) – Air Berlin <AB1.DE>
canceled $1.7 billion worth of firm orders for Boeing Co’s
<BA.N> 787 Dreamliner aircraft amid uncertainty over whether it
will increase long-haul flights.
Air Berlin, Germany’s second-biggest airline after
Lufthansa <LHAG.DE>, said on Tuesday that it has cut its order
to 15 planes from 25. It also reduced the number of options for
further 787 aircraft to five from 10, it said.
FRANKFURT, March 9 (Reuters) – Deutsche Post DHL <DPWGn.DE>
unveiled a conservative financial strategy that focuses on
saving cash to safeguard its credit rating and gave a 2010
earnings outlook that missed market expectations.
The move, announced by new Chief Financial Officer Larry
Rosen on Tuesday, comes after Deutsche Post disappointed
investors with major strategic moves that failed to produce
hoped-for gains and long-term growth.
FRANKFURT (Reuters) – Deutsche Post DHL said a global economic recovery and cost cuts will help it boost its core profit this year, as it halted a slide in revenues last year and demand for air freight and mail started to improve.
However, shares dropped in pre-market trade on Tuesday as investors had expected a stronger outlook from Europe’s biggest mail and express delivery company.
FRANKFURT, March 2 (Reuters) – General Motors [GM.UL] has
tripled its funding of European arm Opel and cut its request for
state aid in a bid to win over European governments and labour.
The U.S. carmaker said it will provide 1.9 billion euros
($2.57 billion) in equity and loans — up from the 600 million
euros first earmarked — which Opel said on Tuesday would
provide enough cash to operate through the end of this year.