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FRANKFURT (Reuters) - Lufthansa is planning to launch an asset disposal programme as early as summer with the sale of its 1 billion euro ($1.19 billion) Airplus unit as the German carrier seeks to raise cash to emerge from a government bailout, people close to the matter said.
FILE PHOTO: A Lufthansa plane takes off behind a grounded jet at the airport as the spread of coronavirus disease (COVID-19) continues in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach/File Photo
Lufthansa is working with Goldman Sachs on the divestiture of the business travel expenses manager, the sources said, adding that the summer timing of the auction will depend on bookings picking up after lockdown restrictions ease.
3 Min Read
FRANKFURT (Reuters) - Lufthansa is planning to launch an asset disposal programme as early as summer with the sale of its 1 billion euro ($1.19 billion) Airplus unit as the German carrier seeks to raise cash to emerge from a government bailout, people close to the matter said.
FILE PHOTO: A Lufthansa plane takes off behind a grounded jet at the airport as the spread of coronavirus disease (COVID-19) continues in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach/File Photo
Lufthansa is working with Goldman Sachs on the divestiture of the business travel expenses manager, the sources said, adding that the summer timing of the auction will depend on bookings picking up after lockdown restrictions ease.
Shares of Deutsche Lufthansa AG (ETR: LHA) are trading over 2% in the red this week after the German airline company reported a smaller-than-expected net loss in the fourth quarter and predicted a smaller operating loss in 2021 than last year. Fundamental analysis: Record loss The airline posted a net loss of 1.14 billion euros […]
Lufthansa is losing 1 million euros ($1.2 million) every two hours, "a significant improvement" over the low point of the COVID-19 crisis, the German airline group's chief executive said on Thursday.
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BERLIN, Dec 23 (Reuters) - Lufthansa and its pilots have reached an agreement that secures jobs until end-March 2022 and could help reduce costs by as much as 450 million euros ($548 million), pilots’ union Vereinigung Cockpit (VC) said on Wednesday.
Like its rivals, Lufthansa is struggling to deal with global travel restrictions and grounded fleets in the wake of the coronavirus pandemic.
It is surviving on 9 billion euros of state aid, and Chief Executive Carsten Spohr had said earlier this month that the airline would have to lay off 1,000 pilots in the second quarter if it cannot seal a wage agreement with unions.