Deutsche Lufthansa AG (LHAG.DE) Key Developments |
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Deutsche Lufthansa AG (LHAG.DE)

LHAG.DE on Xetra

24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Deutsche Lufthansa comments on FY 2016 outlook
Monday, 2 May 2016 08:00pm EDT 

Deutsche Lufthansa AG:Group’s result forecast for FY 2016 remains unchanged.For FY 2016 expects to achieve an adjusted EBIT slightly above the previous year result of 1.8 billion euros.  Full Article

Deutsche Lufthansa AG - Germanwings crash victim families sue U.S. Lufthansa unit - Reuters News
Wednesday, 13 Apr 2016 06:20pm EDT 

Deutsche Lufthansa AG:Families of those killed on a Germanwings flight last year have sued a training unit of the airline's parent, Deutsche Lufthansa AG, in U.S. district court in Arizona for wrongful death, their law firm said on Wednesday. - RTRS.Kreindler & Kreindler LLP said it had filed a lawsuit on behalf of 80 families against Airline Training Center Arizona Inc, which instructed the Germanwings pilot who barricaded himself in the cockpit and flew his jet into the French Alps on March 24, 2015, killing 150 passengers and crew.The families charged that the training unit was negligent in failing to discover pilot Andreas Lubitz's medical history before admitting him to the program in 2010.The 144 passengers on the plane came from 18 countries, Germanwings has said.The majority were from Germany and Spain, while three were from the United States.None of the plaintiffs in the lawsuit are related to the U.S. victims, Kreindler partner Marc Moller said in an interview.However, he said they had standing because the training unit was the gateway that taught Lubitz how to fly planes.A Lufthansa spokeswoman said, "Based on our information, we see no prospects of success for this course of action.".  Full Article

Deutsche Lufthansa gives FY 2016 adjusted EBIT outlook, to propose FY 2015 dividend
Wednesday, 16 Mar 2016 08:00pm EDT 

Deutsche Lufthansa AG:Will propose to the Annual General Meeting that a dividend of 0.50 euros per share be distributed for FY 2015.Expects to again slightly improve its adjusted EBIT in FY 2016.The forecast does not, however, include any earnings impact from possible strikes.  Full Article

Deutsche Lufthansa and cabin crew union reach agreement on pay, pensions - Reuters
Friday, 22 Jan 2016 04:30am EST 

Deutsche Lufthansa AG:Signs agreement on mediation with cabin crew union - Reuters.Agreement means cabin crew strikes ruled out until end June.Has already agreed new pay deal for cabin crew.Pay deal runs until Sept. 2016 and sees around 19,000 cabin crew receiving a one-off payment of 3,000 euros for 2015, plus a pay rise of 2.2 percent from Jan. 1, 2016.New pay deal for the period from Oct. 1 will be part of the mediation process, as will any details on pensions that can't be agreed before Feb. 15.  Full Article

Deutsche Lufthansa AG - EU court backs Air France KLM SA, other airlines in cartel challenge - Reuters
Wednesday, 16 Dec 2015 03:00am EST 

Deutsche Lufthansa AG:Europe's second highest court backed on Wednesday a challenge by Air France-KLM AIRF.PA and other airlines against a near 800 million-euro ($873.9 million) cartel fine handed down to the group five years ago for fixing prices of air cargo - RTRS."The General Court annulled the decision by which the Commission imposed fines amounting to approximately 790 million euros on several airlines for their participation in a cartel on the air freight market," the General Court said in its ruling. - RTRS.The European Commission in its 2010 decision said that 11 air cargo carriers fixed surcharges for fuel and security from December 1999 to February 2006. - RTRS.The other carriers were Air Canada, KLM, Martinair, British Airways, Cargolux, Cathay Pacific Airways, Japan Airlines, LAN Chile, Qantas, SAS and Singapore Airlines - RTRS.Lufthansa LHAG.DE escaped a sanction because it blew the whistle on the cartel. - RTRS.Air France took the biggest hit with a fine of 182.9 milion euros while KLM came in second at 127.2 million euros. The two carriers merged to form Air France-KLM in 2004 - RTRS.  Full Article

Deutsche Lufthansa AG cabin crew union calls off this week's strike - Reuters
Tuesday, 24 Nov 2015 10:01pm EST 

Deutsche Lufthansa AG:The main cabin crew union at Lufthansa has called off a strike planned for this week after progress was made in talks with management over retirement and pension benefits - RTRS.Relations between the two sides had soured over recent months as Lufthansa sought to push through cost cuts, resulting in cabin crew staging the longest ever strike in the history of the German carrier earlier this month - RTRS.The cabin crew union, UFO, had on Monday threatened to hold further walkouts from Thursday in the long-running and bitter row - RTRS.However, the union cautioned on Wednesday that further agreements on jobs needed to be achieved by that date in order to prevent further strikes - RTRS.  Full Article

Deutsche Lufthansa AG cabin crew to strike Thursday, Friday - Reuters
Monday, 23 Nov 2015 02:15am EST 

Deutsche Lufthansa AG:Lufthansa cabin crew have been called to another round of strikes starting Thursday and Friday, the head of trade union UFO, Nicoley Baublies, told Reuters on Monday. More details on the planned action are to follow, he said - RTRS.  Full Article

Deutsche Lufthansa AG invites unions to discuss retirement schemes, jobs - Reuters
Thursday, 19 Nov 2015 02:30am EST 

Deutsche Lufthansa AG:Lufthansa has invited the main three trade unions representing its staff to a round table to discuss job and retirement schemes, it said on Thursday, as the carrier tries to improve relations with staff after damaging strikes - RTRS.The airline has asked unions representing pilots, cabin crew and ground staff to a meeting on Dec. 2 to discuss retirement and pension schemes as well as job prospects at the carrier's main brand - RTRS.But in a country known for its process of "Mitbestimmung", that involves workers in business decisions, the airline's unions have said they feel decisions have been taken without them and management is unwilling to listen to staff, leading to strikes by both the pilots' and cabin crew union - RTRS.  Full Article

Deutsche Lufthansa AG cabin crew union threatens further strikes - Reuters
Friday, 13 Nov 2015 03:28am EST 

Deutsche Lufthansa AG:Lufthansa's main cabin crew union threatened further industrial action on Friday as workers protested at Frankfurt airport at the end of a week-long strike which grounded nearly all of the main airline's flights - RTRS."This strike will end tonight, but if management doesn't change, then strikes will be possible again at any time," Nicoley Baublies, head of the union, told staff - RTRS.Relations between the two sides have become increasingly bitter in the negotiations over early retirement benefits and pensions, which have dragged on for two years - RTRS.A big sticking point in the negotiations is that Lufthansa wants to introduce a cheaper early retirement and pension scheme for new employees, while the union wants the same deal for both current and future staff - RTRS.Since they started strike action last Friday the union has forced the cancellation of about 4,700 Lufthansa flights, disrupting the travel plans of 550,000 passengers. Other group airlines such as Swiss, Austrian and Germanwings were not affected - RTRS.  Full Article

Deutsche Lufthansa AG - Hundreds more flights grounded as Lufthansa strike enters sixth day - Reuters
Wednesday, 11 Nov 2015 10:27pm EST 

Deutsche Lufthansa AG:Hundreds more flights were grounded on Thursday when a strike by Lufthansa's main cabin crew union entered its sixth day, with no sign of compromise to resolve the longest walkout in the history of the German airline - RTRS.Cabin crew staff started a series of strikes at the airline's core Lufthansa brand last Friday to fight for an improved pension offer for employees - RTRS.Lufthansa cancelled 933 flights on Thursday, affecting 107,000 passengers, and equivalent to around one-third of the daily flights usually operated by the airlines within the group. It has said the strike is costing it at least 10 million euros ($10.7 million) a day - RTRS.  Full Article

UPDATE 1-Lufthansa's cargo unit to cut 700-800 jobs worldwide

* Industry suffering from weak economies (Adds air freight industry background, Lufthansa unit's profit forecast)