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.
DOHA (Reuters) – Moves by airlines to keep track of their aircraft in real time following the disappearance of Malaysian Airlines’ flight MH370 could push up ticket prices for passengers – but governments should also foot part of the bill, airline industry leaders said on Tuesday.
Senior executives attending the International Air Transport Association’s (IATA) annual meeting in Doha this week said they needed to install a tracking system to ensure no more airliners could simply vanish as the Malaysia Airlines Boeing 777-200ER did in March.
DOHA, June 3 (Reuters) – As more cargo shifts to passenger
planes and back onto the seas, airlines are having to rethink
their cargo operations or risk the freighter plane becoming a
thing of the past.
While some carriers have already reduced the number of
freighter planes they operate, more drastic changes to shorten
transport times and regain ground lost to the shipping industry
are needed, delegates at an annual airline meeting in Doha said.
DOHA, June 2 (Reuters) – Canada’s Bombardier has
narrowed its investigation of an engine failure on its new
CSeries shorthaul airliner to a few possible causes and hopes to
understand more later this week, the head of its aerospace
operations said on Monday.
The test aircraft suffered an “engine-related incident” on
its newly developed Pratt & Whitney turbofan engine
during stationary maintenance testing last Thursday.
DOHA (Reuters) – Mystified by the loss of Malaysian jetliner MH370, some airlines will not wait for an industrywide solution to keeping track of their aircraft flights in real time, provided products are offered at the right price, industry executives said on Monday.
The disappearance of Malaysian Airline Systems’ flight MH370 almost three months ago has prompted calls for real-time tracking of planes and even continuous streaming of black box data.