BONN (Reuters) – Postal and logistics company Deutsche Post DHL Group (DPWGn.DE: Quote, Profile, Research, Stock Buzz) set a slightly lower than expected profit target for 2015, with a modernization of its freight business dampening earnings.
The restructuring program at its freight forwarding business, dubbed NFE and comprising an IT overhaul, has been more difficult than anticipated, Chief Executive Frank Appel told journalists after the group’s fourth quarter results on Wednesday.
BERLIN, March 10 (Reuters) – More customers on transatlantic
routes, new planes and lower fuel costs mean British airline
Virgin Atlantic is expecting a significant boost to
earnings in 2015 after reporting its first profit for four years
in 2014, its chief executive said.
The 30-year-old airline, which is owned by its British
billionaire founder Richard Branson, with 51 percent, and U.S.
carrier Delta Air Lines, is in the throes of a two-year
turnaround plan which includes shutting its Little Red domestic
airline to concentrate on long-haul.
BERLIN, March 8 (Reuters) – Investors are expected to pump
more money into buying, converting or building hotels in 2015
than in any year since the start of the global financial crisis,
with a focus on budget and ‘buzz’.
In a sector enjoying the benefits of economic recovery and
growing traveller numbers, yields are attractive compared to
alternative real estate like office, industrial or retail.
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 (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.
MUNICH, Feb 27 (Reuters) – Airbus Group took a
charge of 551 million euros ($618 million) due to the latest
delays to the A400M military transporter and juggled production
on its most popular jetliners as it posted
stronger-than-expected annual results on Friday.
The world’s second-largest aerospace group after Boeing
said it would cut production of its A330 widebody jet to
six a month from the first quarter of 2016 as it also ramps up
production of its top-selling A320 family.
BERLIN, Feb 20 (Reuters) – Germany’s Lufthansa
said it will not pay a dividend for 2014, conserving cash for
restructuring, after its net result was hit by the sale of an IT
unit, an increase in pension liabilities and losses from
Lufthansa is trying to cut costs to better compete with
low-cost carriers and rivals from the Middle East. Its efforts
have met fierce resistance from pilots, who went on strike 10
times last year and have already held one walkout this year.
BERLIN/LONDON (Reuters) – Europe’s airlines are racing to add Wi-Fi to their planes, eager to attract Internet-hungry customers in a cut-throat short-haul market and potentially add millions of dollars of revenue through entertainment, services and advertising.
U.S. airline passengers already have a chance of accessing Wi-Fi on 66 percent of miles flown, against a worldwide average of 24 percent, according to data from Routehappy, which rates flights worldwide on amenities such as seats and entertainment.
MUNICH, Feb 12 (Reuters) – Strong global demand for new
passenger jets and a firmer U.S. dollar should help German
aircraft engine maker MTU Aero Engines beat analysts’
average sales and profit forecasts this year, it said on
Its two biggest customers, Airbus and Boeing
, are riding a wave of orders for new fuel-efficient
passenger jets, boosting business for suppliers. Airbus won net
orders for 1,456 planes in 2014, against 1,432 for Boeing.
BERLIN, Feb 11 (Reuters) – A long-running row between
Lufthansa management and German pilots union
Vereinigung Cockpit (VC) over pay and conditions shows no sign
of ending soon after the union called for a two-day strike at
the group’s budget airline Germanwings.
The VC pilots staged 10 strikes last year, affecting
hundreds of thousands of passengers and wiping up to 200 million
euros ($226 million) from 2014 operating profit at Lufthansa,
which is under pressure to reduce costs to keep up with rivals.