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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
As the bond rate inversion curve appeared on 14-Aug-2019 in the US and the UK, Wall Street headed rapidly south. A number of other countries have already this experienced inversion for a while. And in Germany, the world’s fourth largest economy, GDP growth rate went into reverse in 2Q2019. Does this mean recession is coming, or even imminent? Air freight numbers have been steadily falling for nearly a year. They used to be good forward indicators of where the world economy is headed, but not so much in recent years. Passenger traffic growth too has slowed markedly in the past year. Globa
The Executive Board of Deutsche Lufthansa AG is informing investors and analysts today about the further development of its airline strategy. The planned actions should sustainably enhance Lufthansa Group’s value creation. A key element is a comprehensive set of measures to turn around Eurowings, which should be returned to profit as swiftly as possible and sustainably generate value for shareholders. To enable shareholders to participate more substantially in the Group’s results, the current dividend policy shall be changed. In future, 20 to 40% of the Group’s net income should be regularl