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Old February 26th, 2006, 06:32 PM   #81
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GERMAN PRESS: Lufthansa Wants More Acquisitions Long-Term
26 February 2006

FRANKFURT (Dow Jones)--German airline Deutsche Lufthansa AG (LHA.XE) wants to increase its international competitiveness with further acquisitions in the long term, German daily Frankfurt Allgemeine Zeitung reports in its Saturday edition.

"The takeovers of Eurowings and Swiss were just the beginning," said Chief Executive Wolfgang Mayrhuber, according to the report.

Mayrhuber said that in light of global competition, companies need to achieve a certain size in order to survive. "Thus, we have to be in a position to execute more takeovers in the long term," the report cites him as saying.

Mayrhuber rules out hostile takeovers, the report adds.

Newspaper Web site: http://www.faz.de
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Old March 10th, 2006, 04:26 PM   #82
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Lufthansa reports increase in passenger numbers in February

FRANKFURT, March 9, 2006 (AFP) - German airline Lufthansa said on Thursday that passenger numbers increased again in February, driven primarily by strong demand for flights within Europe and to the Asia-Pacific region.

Lufthansa said in a statement that 3.586 million people travelled on its aircraft last month, 3.0 percent more than in February 2005.

But with a 2.7-percent increase in the number of flights and the number of seat-kilometres sold not rising as fast as the number of seat-kilometres on offer, capacity utilisation was down compared to last year.

The so-called seat-load factor, a key measure of profitability, fell by 1.3 percentage points to 70.4 percent in February, the airline said.

In Europe, the number of passengers was up by 3.9 percent at 2.802 million and the number of people flying to the Asia-Pacific region rose by 7.5 percent to 305,000.

By contrast, passenger numbers on routes to the Americas were down by 5.2 percent at 336,000 and on routes to the Middle East and Africa the number of passengers declined by 2.4 percent to 143,000.

At the same time, Lufthansa said that freight traffic declined in February.

Lufthansa Cargo transported 131,000 tonnes of freight and post last month, a decline of 3.3 percent on a 12-month basis.
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Old March 19th, 2006, 08:38 AM   #83
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Swissair liquidator files new lawsuit against former directors

ZURICH, March 18, 2006 (AFP) - The liquidator of Swissair said Saturday he has filed a lawsuit against the former board of directors of SAirGroup, the parent company of defunct Swissair, for having put money into Sabena airline.

The directors injected capital totalling 150 million euros (183 million dollars) into the Belgian carrier in February 2001. It was part of the flawed attempt to expand Swissair overseas that led to the demise of Switzerland's flagship carrier in 2002.

The liquidator, Karl Wuethrich, announced that he filed the lawsuit in a district court in Zurich in a letter addressed Saturday to creditors. The move followed a failed attempt to reach an out-of-court settlement.

Wuethrich said in the letter that the directors were responsible for damages because they recapitalized Sabena while they were aware of the "disastrous economic situation" of the SAirGroup.

In addition, the directors knew that the injection of cash in Sabena would not be enough to cover the Belgian airline's financial needs in the short term, Wuethrich added.

In December 2004, Wuethrich had announced he was preparing charges against 25 people who took part in executive decisions at Swissair between 1998 and 2001.

The total amount of damages at stake was a whopping five billion Swiss francs (3.8 billion dollars, 3.2 billion euros), claimed by some 18,000 creditors, including banks, shareholders and contractors.

In April last year the liquidator filed the first lawsuit against former heads and adminstrators of Swissair seeking 280 million Swiss francs in damages.
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Old March 23rd, 2006, 05:20 PM   #84
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Swiss flies into higher losses

FRANKFURT, March 23, 2006 (AFP) - Swiss airline, which rose from the ashes of the bankrupt Swissair, lost 178 million Swiss francs last year (113 million euros, 136 million dollars), its parent company Lufthansa announced on Thursday.

The losses deepened from the 140 million Swiss francs that Swiss made last year.

Annual turnover rose year-on-year to 3.58 billion Swiss francs from 3.52 billion the previous year.

Yet Lufthansa, the German national carrier, said it was happy with the acquisition of Swiss and said it expected to save 150 million euros this year from pooling the two airlines' resources.

"The effects of synergies from the integration of Swiss have been felt to a greater extent and quicker than expected. This could be seen in 2005," Lufthansa chief Wolfgang Mayrhuber said.

"In 2006, the effects of synergy should be twice as high as first thought."
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Old March 23rd, 2006, 05:21 PM   #85
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Lufthansa 2005 Sales EUR18.07B Vs EUR16.96B
23 March 2006

FRANKFURT (Dow Jones)--Airline Deutsche Lufthansa AG (LHA.XE) Thursday reported a 6.5% rise in full year 2005 sales despite bird flu, terrorism fears and high fuel prices over the past year.

Lufthansa said sales rose to EUR18.07 billion from EUR16.96 billion in 2004. Net profit, which the company reported late Wednesday, rose 12.1% to EUR453 million from EUR404 million in 2004.

The airline said earnings before interest, taxation, depreciation and amortization rose 26% to EUR2.55 billion from EUR2.02 billion.

"We have aimed high in 2005 and achieved more than expected," said Chief Executive Wolfgang Mayrhuber.

"We are strategically well positioned and are operating successfully against tough competition. We are growing, we have become more profitable, and we have invested in future-promising products and quality," he added.

The Frankfurt and Cologne based company said 2005 earnings per share rose 5.3% to EUR0.99.

A poll of seven analysts by Dow Jones Newswires showed they expected sales at EUR17.79 billion, net profit of EUR527 million and EPS of EUR1.17.

At 0910 GMT, Lufthansa shares were up 3.8% at EUR14.30.

Landesbank Rheinland-Pfalz said it would raise its target price on the stock to EUR15 from EUR14, on the back of the higher-than-expected 2005 dividend, which it sees as decisive for short-term share potential. It keeps the stock at marketperformer.

Lufthansa said it expects 2006 operating profit to be flat at last year's level. By 2008, it expects operating profit of around EUR1 billion.

The company said it had reached its 2004-2005 cost saving goal of EUR780 million, and would hit its total cost savings goal of EUR1.2 billion in 2006.

It expects carrier Swiss, which it bought in 2005, to break even this year and post a profit next year.

CEO Mayrhuber noted the company's catering unit LSG SkyChefs and travel company Thomas Cook AG, which it jointly owns with retailer KarstadtQuelle AG (KAR.XE), returned to an operating profit in 2005.

Fuel costs this year will amount to around EUR3.3 billion, the company said, although it has so far hedged up to 90% of those costs.

The company said it would increase its passenger capacity moderately during the year and offer more low-cost flights.

"Our strategy as a full-line provider is paying off," CEO Mayrhuber said. "We stand on individual services for individual needs, purpose-designed for every requirement."

Company Web site: http://www.dlh.de
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Old March 31st, 2006, 09:21 PM   #86
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Zurich prosecutors file charges against former Swissair executives, board members
31 March 2006

ZURICH, Switzerland (AP) - Prosecutors said Friday they have filed charges against 19 former top executives and board members of the defunct Swissair for their part in the national airline's 2001 bankruptcy.

The entire managerial board is included in the charges of defrauding creditors, falsifying documents, making false statements about the business and mismanagement, the Zurich cantonal (state) prosecutor's office said.

The Swiss flag carrier was abruptly grounded on Oct. 2, 2001, leaving thousands of passengers stranded and leading the country's four main political parties to demand that former executives be held responsible.

Top of the list was former Chief Executive Philippe Bruggisser, who oversaw the airline's expansion strategy until he was forced out in January 2001, and is one of those being charged by prosecutors in Zurich, the former headquarters of the company.

The others charged are former chief financial officers George Schorderet and Jacqueline Fouse, as well as board members Mario Corti, Verena Spoerry, Lukas Muehlemann, Andres Leuenberger and Thomas Schmidheiny. Corti later became CEO himself.

Corti's lawyer rejected the accusations and said Corti would defend himself. Lawyers for a number of the others accused also refuted the charges.

Spoerry, a member of the Swiss parliament, said she was disappointed that she and other former members of the board of the holding company SAirGroup were included among those charged.

"I know of no criminally relevant act that the management board is supposed to have committed," Spoerry told German-language Swiss radio DRS. "It's not a nice feeling to be accused. But I'm sure I will be able to prove my innocence."

Eric Honegger, a former chief executive of SAirGroup who also was charged, described the accusations as unfounded.

The consulting firm Ernst & Young said in a 2003 report of its investigation that leadership errors, dubious accounting methods and lack of controls all contributed to Swissair's collapse and left the way open for legal proceedings against former management.

The Swissair board must have known in summer 2000 that the company faced a deficit of 4.5 billion Swiss francs (then around US$2.7 billion), the investigation concluded, and the carrier's grounding was unnecessary on strictly financial grounds because Swissair had 123 million francs (then US$76.9 million) at its disposal, not just the 14.5 million francs (then US$9 million) it claimed.

Swissair was long a symbol of reliability and quality. After its abrupt demise, the Swiss government and big banks were forced to inject billions of dollars into the successor Swiss International Air Lines.

Swiss struggled to regain passenger confidence after starting operations in 2002, and has been taken over by Germany's national carrier Lufthansa AG.
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Old April 5th, 2006, 04:52 PM   #87
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Lufthansa Sees 10%-20% Growth In Chile Travel
By Stephan Kueffner
5 April 2006

SANTIAGO (Dow Jones)--The number of passengers traveling to and from Chile on Lufthansa AG (LHA.XE) flights will rise some 10%-20% this year, said Timo Friedrichs, head of local operations for the German airliner.

"That's after 25% growth in 2005 and 15% growth in 2004," and above the 10.2% rise in Chilean international air travel, he told Dow Jones Newswires.

"This is an interesting market," but faced with surging fuel costs on lengthy routes, Lufthansa - and other carriers - are treading carefully.

With the introduction of its new flight plan, Lufthansa on Monday extended its Swiss International unit's flight from Zurich to Santiago - one of the first cost-saving efforts of Lufthansa after taking over the Swiss carrier last year.

Previously, the Airbus 340-300 was idle for a day and "a plane on the ground means costs," Friedrichs said. And while the move reduces the airline's planes destined to the region to just two, fewer seats "can offer more interesting returns," he added.

At the same time, Lufthansa increased connections through its hubs in Europe, using Sao Paulo as a mini-hub, with the Lufthansa plane that formerly flew to Santiago now destined to the Asian market.

Lufthansa's passengers traveling to and from Chile topped 100,000 last year - claiming some 7% of Chile's international air travel - and growing far faster than passenger travel growth under 1% for the airline as a whole last year.

Recent long waits at immigration and check-in counters show a Santiago airport - which accounts for practically all internation travel from and to the country - fast becoming too small for demand, Friedrichs added.

Rivals like Chilean Lan Airlines SA (LFL) are also flying full planes to Europe but refraining from expanding, while discount airline Air Madrid has joined the fray.

But "I can't just raise ticket prices" to match the surge in fuel costs that has cut into airline earnings this year. A high percentage of its customers fly to Europe more than once a year, and prices far higher than current tickets could lead to people traveling less, he added.

The move to Swiss reintroduces a first class, eliminated on the previous Lufthansa plane. Lan also flies a first class to Europe but is phasing it out in favor of an upgraded business class on flights to North America.

Lufthansa expects Swiss to break even this year and post a profit next year.

The German carrier's two-year-old cooperation deal for air cargo with Lan has functioned well, Friedrichs said.
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Old April 11th, 2006, 04:47 PM   #88
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Lufthansa says first quarter passenger numbers rose 2.8 percent on year
11 April 2006

FRANKFURT, Germany (AP) - Lufthansa AG said Tuesday that 11.4 million passengers flew aboard its planes in the first three months of 2006, up 2.8 percent from the same quarter a year ago.

The Cologne-based airline said passengers taking advantage of specials to Eastern Europe and travel to and from Asia and the Pacific contributed to the increase.

Its passenger load factor -- a measure of how full its planes are -- fell by 1.5 percentage points to 71.8 percent.

Lufthansa said its cargo division carried 410,000 metric tons (451,947 U.S. tons) of freight and mail -- a 1 percent decrease from the first quarter of 2005.

Shares of Lufthansa fell more than 2 percent to euro14.49 (US$17.53) in Frankfurt trading.
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Old April 11th, 2006, 04:55 PM   #89
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I had a bad experiencee with Lufthansa. But I won't tell it here
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Old April 11th, 2006, 04:58 PM   #90
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Old April 21st, 2006, 06:09 PM   #91
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Swiss hikes fuel surcharges on passenger tickets because of high oil prices
20 April 2006

ZURICH, Switzerland (AP) - Swiss International Air Lines, which has been taken over by Germany's Lufthansa AG, said Thursday it would raise its fuel surcharges on passenger tickets because of high oil prices.

Swiss said the surcharge hike would go into effect April 25 and would apply for all longhaul, European and domestic flights.

Longhaul services will be subject to a 106 Swiss franc surcharge (US$83.51), up from the current charge of 93 francs (US$73.27). Rates for European and domestic flights will increase to 32 francs (US$25.21), from 29 francs (US$22.85).

Swiss last raised the rates in September 2005.

German flag carrier Lufthansa, Europe's third-largest passenger airline behind British Airways and Air France-KLM, decided in May 2005 to buy troubled Swiss, which had racked up aggregate losses of about 2 billion francs since its creation in 2002.

In January, Lufthansa said that its process to acquire all of Swiss' shares was complete and the company was delisted from the Zurich exchange.
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Old April 21st, 2006, 08:34 PM   #92
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I´ve always thought that LH is the second behind AF-KLM? Or did they become third through the merger of KLM and Af?
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Old April 21st, 2006, 09:06 PM   #93
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Quote:
Originally Posted by Bembelkönig
I´ve always thought that LH is the second behind AF-KLM? Or did they become third through the merger of KLM and Af?
It looks like the IATA still hasn't combned the two airline sets together in their data : http://www.iata.org/pressroom/wats/w...rs_carried.htm

Total (International + Domestic)
Scheduled Passengers Carried


Rank Airline Thousands
1 American Airlines Inc. 91570
2 Delta Air Lines, Inc 86783
3 United Airlines 71236
4 Northwest Airlines, Inc. 56429
5 Japan Airlines International 51736
6 Deutsche Lufthansa A.G. 48268
7 All Nippon Airways 46450
8 Air France 45393
9 US Airways, Inc 42400
10 Continental Airlines, Inc 40548

International

Rank Airline Thousands
1 Deutsche Lufthansa A.G. 34407
2 British Airways p.l.c. 28567
3 Air France 26904
4 KLM Royal Dutch Airlines 20286
5 American Airlines Inc. 18841
6 Singapore Airlines Ltd. 15877
7 Cathay Pacific Airways Ltd. 13623
8 Thai Airways International Public Company Ltd. 13277
9 Scandinavian Airlines System (SAS) 12823
10 Japan Airlines International 12732
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Old June 7th, 2006, 02:26 AM   #94
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Pilots for German carrier Lufthansa win 2.5 percent pay rise
6 June 2006

FRANKFURT, Germany (AP) - German carrier Lufthansa AG said Tuesday its pilots will be receiving a 2.5 percent pay raise starting next month, as well as additional payments.

The airline, Germany's largest, said in a statement it reached an agreement with the Cockpit pilots' union for the pay hike, effective July 1. The deal also includes an additional 1.5 percent raise on next March 1, and a one-time payment worth 10 percent of a monthly wage.

The Cockpit union represents 4,000 pilots at Lufthansa and its cargo division.

Lufthansa said the agreement also includes a more flexible working time plan to react better to seasonal or crisis-related changes in the future.
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Old June 9th, 2006, 05:07 PM   #95
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Lufthansa's May passenger traffic up 7.7 percent from 2005 on increased travel in Europe
9 June 2006

FRANKFURT, Germany (AP) - More passengers flying to destinations in Europe helped airline Lufthansa AG post a 7.7 percent increase in passengers during May, the company said Friday.

The Cologne-based airline said it carried more than 4.8 million passengers worldwide last month compared to the same time last year.

The highest growth, with 9.9 percent more passengers, was recorded in Europe in part because of the addition of more flights from its hubs in Germany.

In the Americas, passenger numbers dipped by 3.6 percent after fewer planes were kept in service. In Asia, the passenger load factor rose by 3.8 percent.

In the Middle East and Africa, passenger numbers fell by less than 1 percent because of fewer seats sold on flights there.

Shares of Lufthansa rose more than 1.6 percent to €13.82 (US$17.49) in Frankfurt trading.
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Old June 26th, 2006, 06:10 PM   #96
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Lufthansa - SWISS Integration

The integration of SWISS will take place in separate stages. Having gained the approval of the regulatory authorities, the main requirements for the merger have already been met. Now it is a case of implementing the planned synergies as quickly as possible.

22 March 2005
Announcement of the takeover and integration of SWISS

23 March 2005
Lufthansa acquires an 11% stake in the Swiss-domiciled company AirTrust, which holds SWISS shares

4 May 2005
Public offer to purchase shares held by minority SWISS shareholders

23 June 2005
AirTrust holds 98.7% of SWISS equity

4 July 2005
The European Commission and the US competition authorities approve the takeover of SWISS

20 July 2005
Initial customer benefits are realised: mutual recognition of the respective frequent flyer programmes Lufthansa Miles & More and Swiss TravelClub, lounge access for Gold customers and combinable air fares

August 2005
Lufthansa increases its stake in Air Trust to 49%

30 October 2005
Step-by step integration with effect from the 2005/2006 winter timetable

1 January 2006
Sales activities to be coordinated

1st half of 2006
Accession to Star Alliance planned

1 April 2006
Miles & More becomes SWISS’s frequent flyer programme

2006/2007
Complete takeover of AirTrust by Lufthansa once SWISS’ traffic rights have been secured
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Old June 27th, 2006, 02:03 AM   #97
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Can someone tell me if the Swiss brand will remain? Or will it be completely swallowed up by Lufthansa?
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Old June 27th, 2006, 05:59 AM   #98
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Lufthansa says opposes air traffic control fee rise

FRANKFURT, June 26 (Reuters) - Germany's biggest airline, Deutsche Lufthansa , said it opposes plans by the firm in charge of controlling the country's air traffic to hike the charges it imposes on carriers using its services next year.

State-owned Deutsche Flugsicherung (DFS) wants to increase charges by 13 percent in 2007 to help it make pension provisions of 780 million euros ($981.5 million) arising from an accounting switch ahead of its planned privatisation.

But Lufthansa, which is DFS's largest customer, wants the fees to be lowered, not raised.

"If it really comes to fee increases, we are clearly of the view that this is not appropriate, especially when you look at the growth in traffic," a Lufthansa spokesman said on Monday. "Our goal is a cut in fees per flight."

DFS cut charges to airlines for using its services through German airspace by 11.5 percent for 2006 -- the third annual cut --, though it raised fees for the controlling of landings and take-offs at German airports by 2.6 percent.

Under current rules, DFS must repay any surplus it makes from fees after two years through appropriate reductions.

A DFS spokeswoman said on Monday a new model for charges would be introduced with privatisation.

"This model will be developed and put forward by the transport ministry," she said.

DFS plans to hold a meeting with its airline customers in Bonn on Tuesday, led by the transport ministry, to discuss charges.

The German government plans to sell a 74.9 percent stake in DFS, enabling it to raise as much as one billion euros for the federal budget. A tender for the sale is expected in the autumn.

Lufthansa is itself interested in taking a stake in the company as part of a consortium. Other companies that have said they are interested in taking part in the privatisation include Frankfurt airport operator Fraport and tourism firm TUI , whose German airlines include Hapagfly.

DFS had sales of 923 million euros in 2004, an increase of 2.5 percent despite a drop in charges. The company has not yet published figures for last year.
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Old June 28th, 2006, 03:07 AM   #99
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Quote:
Originally Posted by Filip
Can someone tell me if the Swiss brand will remain? Or will it be completely swallowed up by Lufthansa?
It will remain. Zurich will also remain a hub.
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Old June 29th, 2006, 04:10 AM   #100
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Lufthansa-Swiss

Has Lufthansa bought 100% of Swiss International Airline? If so, then why isn't it bigger (in terms of revenue) than Air France-KLM given that Lufthansa alone is only slightly smaller than Air France-KLM itself?
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