Search the Community
Showing results for tags 'aua'.
May 8, 2020 Lufthansa Group held its first ever virtual annual general meeting on 05-May-2020, with around 10,000 shareholders dialling-in. Chairman and CEO Carsten Spohr had the unenviable task of ‘e-informing’ shareholders of the board’s vision to getting the company through coronavirus and what the future will look like when the virus recedes. The meeting’s introduction was a poignant reminder of what was, and what the company is fighting for in the coming months. Mr Spohr admitted it is a “bitter” feeling that 65 years of work building up Lufthansa’s traffic volume and global networ
MIAMI – The Lufthansa Group is considering bankruptcy under its own management amid reports of an alleged agreement for multi-billion state aid. The German government said this morning that as of yet there has not been an agreement on state aid. According to a report by the German Press Agency, the talks are not expected to end by the end of the week either, noting that with a company of this size, such aid must be used wisely. On a different front, the Swiss Lufthansa subsidiary Swiss, has apparently made progress, which, according to media reports, can expect state-guaranteed loans
Austrian Airlines to cut costs in order to compete against budget airlines Austrian Airlines has announced a new austerity plan in the wake of losses due to stiff low-cost competition: Threat of losses in 2019 and 2020: Airline counteracts developments with a package of measures EUR 90 million should be saved annually, 700-800 budgeted positions in the company are affected Management Board: “We will fight relentlessly and vigorously against the price and wage dumping practiced by low-cost airlines” Austrian Airlines is repositioning itself in response to the glut of lo