Deutsche Lufthansa AG ADROTCQX
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  • 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.
    | Oct. 22, 2014, 4:15 AM | 2 Comments
  • Dec. 22, 2011, 4:38 AM
    International 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 AM
    Virgin 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