Lufthansa (DLAKY) and Air China are considering a commercial joint venture on routes between China and Europe, due to rising competition and decreasing domestic business.
European carriers are seeking stronger ties into growth markets like China to offset shrinking European business. Joint ventures allow airlines to closely coordinate operations and ticket pricing. On certain routes, the airlines can even operate like a single carrier without violating antitrust rules.
Lufthansa already has revenue-sharing joint ventures with United Continental, Air Canada and ANA Holdings.
Two flight delay cases in the U.K. will be closely watched by carriers at risk of paying out a large amount of money if the rulings go against them.
Passengers in EU nations have filed suit after failing to be compensated for flights which arrived more than three hours later than scheduled. A judge could rule that passengers are entitled to funds for flights from years ago.
Related stocks: Lufthansa (DLAKY), Ryanair (RYAAY), Air France-KLM (AFLYY), EasyJet (ESYJY), International Airlines Group.
CFM International, the JV between General Electric (GE) and Safran, has received an order from Lufthansa (DLAKY) worth over €1B ($1.4B) at list prices for LEAP-1A engines to power 40 Airbus A320 neo jets.
It seems that Lufthansa's strategy is to not rely on just one supplier, as it had picked Pratt & Whitney's PW1199G engines for 60 other planes in the booking.
European regulators accept the concessions made by United Continental (UAL), Lufthansa (DLAKY.PK), and Air Canada (AIDIF.PK) on their existing agreement to share transatlantic routes. The carriers will give up airport slots in Frankfurt and New York City as part of the negotiated arrangement to open up competition.
Global airline stocks trade weak in European markets after concerns about a new virus intensify. The novel coronavirus infection has killed over 34 people and can be transmitted between humans, according to the World Health Organization. On watch: Delta Air Lines (DAL), United Continental (UAL), China Eastern Airlines (CEA), China Southern Airlines (ZNH), Copa Holdings (CPA), Gol Linhas (GOL), Latam Airlines (LFL), Air France-KLM (AFLYY.PK), Deutsche Lufthansa (DLAKY.PK)
Lufthansa (DLAKY.PK) thinks a round of harsh cuts in costs and new profit-boosting initiatives will help it improve its results this year. The carrier reported a loss of €359M for Q1 on revenue of €6.63B (-0.1% Y/Y).
Lufthansa (DLAKY.PK) cancels nearly all of its flights in Europe as a strike by workers hits a feverish pitch. Though the company estimates the strike will cost it tens of millions of euros, shares are trading higher in Frankfurt with investors betting the hard line taken by the carrier with negotiations will pay off in the long run.
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 five business segments, which cover the areas of passenger transportation, airfreight and airline services: Passenger Airline Group, Logistics,...More