Key Developments: Deutsche Lufthansa AG (DLAKY.PK)
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Latest Key Developments (Source: Significant Developments)
Deutsche Lufthansa AG Cancels Flights Due To Union Strike-Reuters
Reuters reported that Deutsche Lufthansa AG said it was cancelling almost 1,700 flights on April 22, 2013, mostly on domestic and short-haul European routes, as a result of planned strike action by thousands of workers calling for higher pay. Verdi, representing 33,000 staff at the airline, announced the strike action on April 19, 2013to put pressure on Lufthansa management to make a better pay offer. The union said the offer put forward by Lufthansa on Wednesday was 'scandalous.' Full Article
Deutsche Lufthansa AG, Air Berlin Plc And Fraport Frankfurt Airport Services Worldwide AG Lose Strike Case Against Union-DJ
Dow Jones reported that German airlines Deutsche Lufthansa AG and Air Berlin Plc and airport operator Fraport Frankfurt Airport Services Worldwide AG have lost a legal case against a labor union over industrial action in February last year, in a ruling Monday from the district court in the state of Hesse. The airlines and Fraport had sought damages of EUR9.19 million ($11.9 million) from the GdF union, which represents ground staff. Strike action called by GdF in early 2012 caused cancellations of almost 1,700 flights over a two-week period. Fraport said the strike was illegal because part of the union's demands were on aspects that were still covered by a valid labor agreement. The court agreed but decided those demands covered in the agreement were only subsidiary ones and the main reasons for the strike were legal. If those minor demands had not been included the industrial action would have had a similar impact and so the companies weren't entitled to damages. The airlines and Fraport plan to appeal the decision in the Hesse regional labor court. Full Article
Deutsche Lufthansa AG’s Workers To Go On Strike-Reuters
Reuters reported that Deutsche Lufthansa AG (Lufthansa) announced that German union Verdi has called on 33,000 workers to go on strike on March 21, 2013 to increase pressure on the airline in a dispute over wages and job security. The strike is expected to last for about five hours from 5am. In negotiations Verdi is demanding a 5.2% increase in wages for 12 months for employees on the ground at Lufthansa Cargo, Lufthansa Technik, Lufthansa Systems and catering unit LSG Sky Chefs, as well as a commitment by Lufthansa to safeguard jobs. Full Article
Deutsche Lufthansa AG and Societe Generale To Sell 5.28% Of Amadeus IT Holding SA-Reuters
Reuters reported that Deutsche Lufthansa AG (Lufthansa) and Societe Generale will sell 5.28% of Amadeus IT Holdings' (Amadeus’) share capital. Lufthansa will sell around 16 million of Amadeus shares, equivalent to 3.61% stake in Amadeus, while Societe Generale will place 1.66% of Amadeus' share capital. Full Article
Deutsche Lufthansa AG Cabin Crew To Strike In Frankfurt, Berlin-Reuters
Reuters reported that Deutsche Lufthansa AG's cabin crew representatives said late on September 3, 2012 they would go on strike on September 4, 2012 for eight hours in Frankfurt and Berlin in a row over pay and conditions. The German cabin crew union UFO said it was calling on its members working at Lufthansa to go on strike in Frankfurt from 04:00 to 12:00 GMT and in Berlin's Tegel airport from 03:00 to 11:00 GMT on September 4, 2012. Full Article
Deutsche Lufthansa AG To Begin Strike-Reuters
Reuters reported that Deutsche Lufthansa AG cabin crew members will strike beginning on August 31, 2012 German trade union UFO said. airline will be given a 6-hour notice period on strike targets and the timing of when the walkouts will begin, Ufo said on its Web site on August 30, 2012. The union said it hasn't decided on the exact locations and timing for the strikes. The dispute with Lufthansa could continue for a very long time, Ufo said. Full Article
Deutsche Lufthansa AG Reaffirms FY 2012 Revenue Guidance-Conference Call
Deutsche Lufthansa AG announced that for the fiscal year 2012 the Company’s Executive Board anticipates an increase in revenue and an operating result in the EUR mid-three digit million range. For the fiscal year 2011, the Company reported revenue of EUR28,734.00 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of EUR30,234.64 million for fiscal 2012. Full Article
Lan Airlines S.A.'s Subsidiaries Announces Settlement Agreement With Applicants, Including Deutsche Lufthansa AG
Lan Airlines S.A. announced that with regards to the Plea Agreement from January 21, 2009 signed by the Company’s subsidiaries, Lan Cargo S.A. and Aerolinhas Brasileiras S.A. (ABSA), with the Department of Justice of the United States of America, the Company on June 6, 2011 approved together with Lan Cargo SA and ABSA to sign the Settlement Agreement with applicants. Among applicants are Deutsche Lufthansa AG, Japan Airlines, American Airlines Inc., Air France-KLM, SAS, All Nippon Airways, Cargolux, Qantas, Thai Airways and British Airways. According to the settlement agreement approved by the United States District Court for the Eastern District of New York, the class action initiated by the applicants against Lan Airlines SA’s subsidiaries becomes to an end. As a result of this transaction, Lan Cargo SA will pay a compensation of USD 59.7 million, while ABSA will pay USD 6.3 million. Moreover, it has been established a fund for benefit notifications of applicants for the amount of USD 150 thousand. The payment date is June 14, 2011. Full Article
Deutsche Lufthansa AG And ANA Announce Strategic Joint Venture
ANA and Deutsche Lufthansa AG announced that they are launching a strategic joint venture with each other on Japan-Europe routes after ANA receiving Anti-Trust Immunity (ATI) approval from the Japanese Ministry of Land Infrastructure and Transport. This latest agreement between the two Star Alliance members follows the launch of a similar joint venture between ANA and United Airlines on trans-Pacific routes in April. The joint venture with Lufthansa will improve the level of service offered to passengers by allowing ANA and Lufthansa to work together on schedule coordination and joint product sales. Customers will benefit from seamless transfers and better connections. The two carriers aim to introduce the new joint venture within the 2011 winter timetable. Full Article
Lufthansa says April passenger traffic stagnant
FRANKFURT - German airline Lufthansa said on Monday that April passenger traffic in terms of revenue seat kilometers was flat from a year earlier.
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