DUESSELDORF/BERLIN, Aug 15 (Reuters) – German department
store giant Karstadt is changing hands for the second time in
four years, with Austrian property investor Rene Benko set to
overhaul the loss-making chain.
A familiar sight in German cities and the owner of the
famous KaDeWe luxury department store in Berlin, Karstadt
competes with Kaufhof, which has capitalised on Karstadt’s woes
to gain market share. The two run around 100 stores each.
BERLIN, Aug 11 (Reuters) – Beset by low air fares and
relentless competition, airlines around the world are waking up
to the value of their frequent flyer programmes and realising
they can boost profits as well as brand profile.
A multitude of global carriers – preserved by complex
cross-border ownership rules that curb dealmaking – means that
simply selling tickets is no longer lucrative. Industry body
IATA predicts a 3.5 percent drop in fares this year and for
airlines’ net profit margins to reach just 2.4 percent.
BERLIN, Aug 7 (Reuters) – Companies in Germany, Russia’s
biggest trade partner in the European Union, are starting to
feel the pain of a deepening standoff between the West and
Moscow, with firms from defence to car manufacturing warning
about a hit to business.
Germany sold about 36 billion euros ($48 billion) of goods
to Russia last year, almost a third of the EU’s total, and some
6,200 German firms are active there with 20 billion euros of
BERLIN, Aug 6 (Reuters) – The outbreak of the Ebola virus in
West Africa, conflict in the Middle East and a possible trade
war with Russia could all hurt air travel this year, a leading
industry group said.
“All have the potential to dent demand,” Tony Tyler,
Director General of the International Air Transport Association
(IATA), which represents around 240 airlines, said on Wednesday.
BERLIN, July 31 (Reuters) – Lufthansa, Europe’s
largest airline by revenue, reported lower than expected
second-quarter profit as ticket prices fell on North American,
Asian and European routes and strike action weighed.
“We are not happy with the second quarter … We have a lot
of catching up to do in the summer,” Chief Financial Officer
Simone Menne told journalists on Thursday.
BERLIN, July 22 (Reuters) – Governments should take the lead
in reviewing how risk assessments for airspace are made, the
head of the International Air Transport Association said,
sidestepping calls for a conference of global airlines on the
The issue of flying over conflict zones is in focus after
Malaysia Airlines flight MH17 was shot down over
rebel-held territory in eastern Ukraine on Thursday.
BERLIN/GENEVA, July 18 (Reuters) – As international
investigators head to rebel-held eastern Ukraine to piece
together what – and who – caused a Malaysian airliner to plunge
into the steppe, securing evidence in the middle of a war zone
is a major challenge.
Proving what happened beyond doubt and to the satisfaction
of the warring parties may already be all but impossible, after
local people and rebel fighters have spent 24 hours sifting and
moving debris and bodies and Ukraine and Russia make detailed
allegations against each other and argue over the black boxes.
FARNBOROUGH, England, July 17 (Reuters) – The prospect of
huge time savings, less waste and more design options have drawn
aerospace firms to invest in additive layer manufacturing, also
known as 3D printing, though it may be years before parts made
this way are common in planes and weapons.
In 3D printing, components are made by building up layers of
titanium or other raw materials using computer-driven machines,
compared with traditional casting which involves taking a piece
of material and cutting away to create the desired part.
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”.