Oct. 22, 2014, 4:15 AM
- Lufthansa (OTCQX:DLAKY) is close to selling its IT infrastructure unit to IBM (NYSE:IBM), including an outsourcing agreement for the services, as part of a restructuring to better position itself to compete with low-cost carriers and Gulf rivals.
- The move will reduce Lufthansa's annual IT costs by around €70M a year, but will result in a €240M ($305.2M) charge this year.
- Under the planned deal, Lufthansa will outsource all of its IT infrastructure services to IBM under a seven-year agreement. A final price for the sale is still being negotiated.
Dec. 22, 2011, 4:38 AMInternational Consolidated Airlines Group (BABWF.PK), or IAG, beats out Virgin Atlantic in the fight for Lufthansa's (DLAKY.PK) airline British Midland. IAG will pay £172.5M ($271M) in cash for the money-losing airline to help secure its growth at London's Heathrow airport. IAG +1% in England. Lufthansa +2.1% in Germany. | Dec. 22, 2011, 4:38 AM
Dec. 12, 2011, 8:16 AMVirgin Atlantic makes a bid for Lufthansa's (DLAKY.PK) British Midland - raising the stakes with its battle with British Airways-parent International Airlines Group for valuable landing slots at London's Heathrow Airport. A spokesman for Lufthansa says it will talk again to both Virgin and IAG before striking a deal sometime in Q1. | Dec. 12, 2011, 8:16 AM
The Lufthansa Group is an aviation group with global operations and a total of more than 400 subsidiaries and associated companies. It is divided into four business segments, which cover the areas of passenger transportation, airfreight and airline services: Passenger Airline Group, Logistics,... More