FARNBOROUGH England (Reuters) – Airbus (AIR.PA: Quote, Profile, Research, Stock Buzz) and Boeing (BA.N: Quote, Profile, Research, Stock Buzz) climbed close to the $100 billion mark for plane deals at the Farnborough Airshow on Wednesday, demonstrating healthy demand for new passenger jets despite concerns raised by their already record full order books.
Recent profits warnings from the likes of Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) and Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz) have stoked fears of a sharp slowdown in demand for new aircraft or even cancellations.
FARNBOROUGH, England, July 15 (Reuters) – Airbus clinched
its first airline customer for a newly revamped model with a
tentative deal with Malaysia’s AirAsia for 50 A330neo
wide-body jets worth over $13 billion on Tuesday.
The deal was sealed with a peck on the cheek from the French
boss of Europe’s largest planemaker for AirAsia founder Tony
Fernandes, who told the Farnborough Airshow: “We’re Airbus’s
largest plane customer and definitely the most loved”.
FARNBOROUGH, England, July 15 (Reuters) – The world’s
largest planemakers returned to business as usual on day two of
the Farnborough Airshow, inking deals worth about $25 billion
with the industry’s top financiers on Tuesday after an
ill-tempered clash over their latest aircraft designs.
The flurry of business deals involved names that mean little
to most travellers but which keep the wheels turning of a $100
billion annual market for jetliners that remain in hot demand in
emerging markets, as the West limps out of recession.
SEEHEIM, Germany, July 9 (Reuters) – Lufthansa may
launch low-cost long-haul flights under a new brand as part of
plans by the company’s new boss to battle competition from
Middle East carriers and no-frills airlines.
The long-haul plan would mark a big shift for the company
which prides itself on still being a full-service airline and
also represents a high-risk route that few others have taken.
BERLIN/FRANKFURT, July 7 (Reuters) – With state-owned Gulf
airlines and low-cost rivals poaching more of its customers,
Germany’s biggest airline Lufthansa may have decided
it has little choice but to join them.
New Chief Executive Carsten Spohr will say this week how he
aims to win back investors after a profit warning knocked $2
billion off Lufthansa’s market value. A new round of cost cuts,
a deeper push into cheaper no-frills services or a possible
alliance with a Middle Eastern airline could be on the menu.
BERLIN, July 2 (Reuters) – A proposed Franco-German defence
merger to create Europe’s biggest maker of tanks and other
ground armaments would be scrutinised to see if it threatens
Germany’s security interests, the German economy ministry said.
The deal between France’s Nexter and Germany’s Krauss-Maffei
Wegmann (KMW), announced on Tuesday, was heralded as a means of
cutting costs among arms suppliers at a time when defence
spending is under pressure.
FRANKFURT, June 27 (Reuters) – Europe’s biggest tour
operator TUI Travel and its majority owner TUI AG plan to
merge in an all-share, nil-premium deal worth around 4.4 billion
pounds ($7.49 billion) to cut costs and create the world’s
largest leisure tourism group.
Investors have long expected such a tie-up since TUI Travel
was created in 2007 from the merger of Britain’s First Choice
and the travel business of TUI AG, which now owns
around 55 percent of the London-listed firm.
FRANKFURT (Reuters) – Lufthansa cut back its profit targets for the next two years on Wednesday citing competition from Middle East and low-cost rivals, sending shares of Europe’s biggest-selling airline plunging.
The warnings surprised investors after better-than-expected results in May and come just over a month after new chief executive Carsten Spohr took charge.
FRANKFURT/LONDON (Reuters) – Henkel & Co plans to buy French household cleaner maker Spotless, for 940 million euros ($1.28 billion) cash, its second purchase in a week as the German consumer goods company builds its presence in large, profitable, mature markets.
Henkel is buying Spotless from London-based private equity firm BC Partners, adding Eau Ecarlate and Dylon laundry products to a portfolio that already includes Persil detergent, Loctite adhesives and Schwarzkopf hair products.
DOHA/DUBAI, June 3 (Reuters) – Qatar sealed its position at
the centre of a new aviation map this week as host to the annual
meeting of the global airline industry’s International Air
Transport Association (IATA), but the Gulf country and its
neighbours drew criticism from rivals about trade and investment
Senior representatives of over 200 airlines attended the
IATA meeting in Doha, making Qatar the first Gulf country to
host the summit, which was attended by its fiercest critics.