Key Developments: Deutsche Lufthansa AG (LHAG.DE)

LHAG.DE on Xetra

12.63EUR
15 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Deutsche Lufthansa AG's Chairman of Executive Board and CEO to Resign
Monday, 16 Sep 2013 01:38am EDT 

Deutsche Lufthansa AG announced that Dr. Christoph Franz has informed the Company that he is not available for an extension of his contract as Chairman of the Executive Board and Chief Executive Officer (CEO). His current contract runs until May 31, 2014.  Full Article

Deutsche Lufthansa AG Close To EADS NV's Airbus, Boeing Co Jet Order-Reuters
Friday, 13 Sep 2013 06:25pm EDT 

Reuters reported that Deutsche Lufthansa AG is close to placing an order, split between EADS NV's Airbus and Boeing Co, for dozens of long-haul jets. The keenly awaited order, due to be announced next week, follows a contest between the planemakers for roughly 50 aircraft to renew the German flag carrier's long-distance fleet. It is expected to include the public commitment to buy a revamped 400-seat version of Boeing's 777 mini-jumbo, code-named 777-9X, which the planemaker aims to launch this year. The 406-seat Boeing 777-9X, equipped with new engines and wings, is expected to start flying passengers around the end of the decade. Lufthansa is also expected to order an estimated 20 to 25 of the smaller Airbus A350-900 aircraft. The 314-seat model is due to enter service in the second half of next year. A Lufthansa spokesman confirmed the airline was holding talks. EADS' Airbus, and Boeing Co both declined comment.  Full Article

Deutsche Lufthansa AG To Place $10 Billion Plane Order Next Month-Reuters
Thursday, 22 Aug 2013 02:49pm EDT 

Reuters reported that Deutsche Lufthansa AG's board of directors and supervisory board are expected to approve in mid-September 2013 an order for about 50 wide-body jets worth more than $10 billion at list prices. The German airline previously said it expected to place such an order in the second half of 2013. Lufthansa is evaluating Boeing Co's 787 Dreamliner, Boeing's still-to-be-launched 777X, and Airbus's A350, which made its maiden flight in June. Final approval of the order is expected at Lufthansa's September 18, 2013 supervisory board meeting, after the airline's executive board makes a preliminary decision,  Full Article

Deutsche Lufthansa AG In Advanced Talks to buy Jets From EADS NV's Airbus and Boeing Co
Monday, 3 Jun 2013 02:43am EDT 

Reuters reported that Deutsche Lufthansa AG is in advanced discussions with EADS NV's Airbus and Boeing Co to buy around 50 long-haul jets, Chief Executive Christoph Franz said. The German airline is evaluating Boeing's 777 and 787 families, including a new stretched version of the 787 Dreamliner, and the Airbus A350, he said in an interview.  Full Article

Deutsche Lufthansa AG Cancels Flights Due To Union Strike-Reuters
Saturday, 20 Apr 2013 03:09pm EDT 

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
Monday, 25 Mar 2013 08:47am EDT 

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
Wednesday, 20 Mar 2013 05:42am EDT 

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
Tuesday, 13 Nov 2012 01:52pm EST 

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

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Lufthansa close to deal with IBM for IT infrastructure unit

BERLIN/FRANKFURT - German airline Lufthansa is close to a deal to sell its IT infrastructure unit to IBM , including an outsourcing agreement for the services, as part of a shake-up of its technology activities, it said on Wednesday.

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