Lufthansa
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Considering that Lufthansa bought Swiss and not vice versa, it would have nothing to do with Swiss tax payers. Why bring them into this anyway when this is a purely German-Belgian transaction? *rolls eyes*
SRB would have something to say since he's the major shareholder in SN Brussels (because of the merger between Virgin Express and SN).
S.
SRB would have something to say since he's the major shareholder in SN Brussels (because of the merger between Virgin Express and SN).
S.
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Lufthansa makes bid on Austrian
I see that the Lufthansa acquisition of Austrian is going ahead - this from DLH's press orifice:
"The Supervisory Board of Deutsche Lufthansa AG today approved a bid to purchase up to 100 per cent of the shares in Austrian Airlines
Lufthansa will initially acquire the 41.56 per cent share in Austrian Airlines AG held by Österreichische Industrieholding AG (ÖIAG). This share package is to be acquired at a price of EUR 366,000. In addition to this, a debtor warrant will be arranged, of which Lufthansa will pay a sum of up to EUR 163m depending on Austrian Airlines' economic performance and the Lufthansa share outperforming its competitors.
In the course of the period specified by Austrian takeover law, Lufthansa will also make a public takeover bid to Austrian Airlines' free float shareholders. The company is applying to the Austrian Takeover Commission for an extension of the notification period to the longest permissible time. The bid price will correspond to the average weighted market price of the Austrian Airlines share over the six months preceding this announcement. Subject to an examination by the Takeover Commission, this figure will be EUR 4.44 per share. In total, some EUR 215m will be offered to private and institutional free float shareholders as part of the takeover bid.
Wolfgang Mayrhuber, Chief Executive Officer Lufthansa Group, said: "Gaining the support of our Supervisory Board for the acquisition of Austrian Airlines is an important step which paves the way for ÖIAG, the government in Vienna and the European Commission to make their decisions following due consideration of the transaction. Our bid is fair. It takes the interests of all those concerned into account and shares the encumbrances and risks fairly. The consequences of the financial markets crisis and its effects on the real economy also have a major impact on the aviation industry. Structural changes increase the likelihood of Lufthansa and Austrian Airlines sharing a brighter future."
Execution of these contracts is subject, inter alia, to the conditions precedent of anti-trust approval and the approval of a EUR 500m restructuring grant to be made by the Republic of Austria, both of which must be granted by the European Commission. Furthermore, Lufthansa must hold 75 per cent of the shares in Austrian Airlines - including those transferred by ÖIAG - after the end of the regular acceptance period for the public takeover bid."
Any thoughts on which european carriers will merge next?
"The Supervisory Board of Deutsche Lufthansa AG today approved a bid to purchase up to 100 per cent of the shares in Austrian Airlines
Lufthansa will initially acquire the 41.56 per cent share in Austrian Airlines AG held by Österreichische Industrieholding AG (ÖIAG). This share package is to be acquired at a price of EUR 366,000. In addition to this, a debtor warrant will be arranged, of which Lufthansa will pay a sum of up to EUR 163m depending on Austrian Airlines' economic performance and the Lufthansa share outperforming its competitors.
In the course of the period specified by Austrian takeover law, Lufthansa will also make a public takeover bid to Austrian Airlines' free float shareholders. The company is applying to the Austrian Takeover Commission for an extension of the notification period to the longest permissible time. The bid price will correspond to the average weighted market price of the Austrian Airlines share over the six months preceding this announcement. Subject to an examination by the Takeover Commission, this figure will be EUR 4.44 per share. In total, some EUR 215m will be offered to private and institutional free float shareholders as part of the takeover bid.
Wolfgang Mayrhuber, Chief Executive Officer Lufthansa Group, said: "Gaining the support of our Supervisory Board for the acquisition of Austrian Airlines is an important step which paves the way for ÖIAG, the government in Vienna and the European Commission to make their decisions following due consideration of the transaction. Our bid is fair. It takes the interests of all those concerned into account and shares the encumbrances and risks fairly. The consequences of the financial markets crisis and its effects on the real economy also have a major impact on the aviation industry. Structural changes increase the likelihood of Lufthansa and Austrian Airlines sharing a brighter future."
Execution of these contracts is subject, inter alia, to the conditions precedent of anti-trust approval and the approval of a EUR 500m restructuring grant to be made by the Republic of Austria, both of which must be granted by the European Commission. Furthermore, Lufthansa must hold 75 per cent of the shares in Austrian Airlines - including those transferred by ÖIAG - after the end of the regular acceptance period for the public takeover bid."
Any thoughts on which european carriers will merge next?
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RACEDO / BOYZINBLUE
Quite agree....And let's also not forget BMI....And, of course, is the only potential buyer for SAS if they can't get their act together very, very soon....And, of course, AZ when Berlusconi and his mates are ready to cash-in...
I've been banging on about this LH almost Monopoly for the past six months ( check through my profile - threads about BMI, SAS, Alitalia, BA ) but nobody seems to have been interested enough to join in a discussion about why the politicos in Brussels keep turning a blind eye to LH....
Interesting to note that LH's statement makes no reference about what will happen to the Government owed debt at Austrian - will this be transferred from the Government to a private bank and then assumed by LH via Austrian, or will it be repaid directly to the Government ? The last I heard, it's about €300 million ( could now be more ) so add this to the €163 million and it's getting to be big numbers....
So how would LH ever recoup their recent outlays without exploiting their dominant position in selected markets - the investment is now getting too big ( Swiss, Austrian, BMI, SN Brussels ) to be paper profitable and cashflow positive through synergies alone without expoliting the ' monopoly ' effect...
We've run up some large liabilities down here in West Africa - do you think we could persuade LH to add us to their shopping list, or are we too far from German speaking Europe to be ' synergistic '
Quite agree....And let's also not forget BMI....And, of course, is the only potential buyer for SAS if they can't get their act together very, very soon....And, of course, AZ when Berlusconi and his mates are ready to cash-in...
I've been banging on about this LH almost Monopoly for the past six months ( check through my profile - threads about BMI, SAS, Alitalia, BA ) but nobody seems to have been interested enough to join in a discussion about why the politicos in Brussels keep turning a blind eye to LH....
Interesting to note that LH's statement makes no reference about what will happen to the Government owed debt at Austrian - will this be transferred from the Government to a private bank and then assumed by LH via Austrian, or will it be repaid directly to the Government ? The last I heard, it's about €300 million ( could now be more ) so add this to the €163 million and it's getting to be big numbers....
So how would LH ever recoup their recent outlays without exploiting their dominant position in selected markets - the investment is now getting too big ( Swiss, Austrian, BMI, SN Brussels ) to be paper profitable and cashflow positive through synergies alone without expoliting the ' monopoly ' effect...
We've run up some large liabilities down here in West Africa - do you think we could persuade LH to add us to their shopping list, or are we too far from German speaking Europe to be ' synergistic '
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Lufthansa Acquires Another Airline!
Reports from Flight International indicate that Lufthansa are acquiring German Wings from Euro Wings.
From Flight:
German flag-carrier Lufthansa is to acquire the budget airline Germanwings from its affiliated regional Eurowings operation.
Terms of the agreement have not been disclosed.
Lufthansa describes the decision as an "organisational matter", pointing out that it will enable management to "better steer" the regional operation in its own market, and similarly for the low-fare division.
The new arrangement will come into effect from 1 January. Germanwings will be taken under an umbrella company called Lufthansa Commercial Holding.
Lufthansa is in the process of acquiring majority ownership of Dortmund-based Eurowings, although it already has management control of the carrier.
Eurowings, which developed Germanwings from its charter division in 2002, says that, with the sale, there are "no immediate changes" in the airlines' operational activities.
"After a successful start-up phase, the building work on the low-cost airline is completed," says Eurowings chief executive Friedrich-Wilhelm Weitholz.
"Eurowings can now focus increasingly on its core business in the regional segment."
Lufthansa has already agreed to acquire several Germanwings Airbus aircraft which are to be used for its new Milan-based operation Lufthansa Italia. Germanwings' fleet, as a result, has been reduced to 25 A319s.
From Flight:
German flag-carrier Lufthansa is to acquire the budget airline Germanwings from its affiliated regional Eurowings operation.
Terms of the agreement have not been disclosed.
Lufthansa describes the decision as an "organisational matter", pointing out that it will enable management to "better steer" the regional operation in its own market, and similarly for the low-fare division.
The new arrangement will come into effect from 1 January. Germanwings will be taken under an umbrella company called Lufthansa Commercial Holding.
Lufthansa is in the process of acquiring majority ownership of Dortmund-based Eurowings, although it already has management control of the carrier.
Eurowings, which developed Germanwings from its charter division in 2002, says that, with the sale, there are "no immediate changes" in the airlines' operational activities.
"After a successful start-up phase, the building work on the low-cost airline is completed," says Eurowings chief executive Friedrich-Wilhelm Weitholz.
"Eurowings can now focus increasingly on its core business in the regional segment."
Lufthansa has already agreed to acquire several Germanwings Airbus aircraft which are to be used for its new Milan-based operation Lufthansa Italia. Germanwings' fleet, as a result, has been reduced to 25 A319s.
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Purchase of B M I Baby
Please don't flame me for this, but was there not a rumour doing the rounds a short time ago that Lufty were going to 'buy' A319's for WW.
I wonder. Could there be amalgamations of low cost carriers going to happen under the Lufty ownership. As all Germanwings aircraft are A319's, food for thought ?
Any comments please.
I wonder. Could there be amalgamations of low cost carriers going to happen under the Lufty ownership. As all Germanwings aircraft are A319's, food for thought ?
Any comments please.
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Hud, Who knows, you might even get to fly ATR's.........Again!
I think the mainline 144 config 319's would fit very well into baby, they are no good for mainline business class and they were stripped down, they even ripped out the plumbing at order stage to save cash, which as per the nom has back fired.
they are nice little toys
regards
Keepitlit
I think the mainline 144 config 319's would fit very well into baby, they are no good for mainline business class and they were stripped down, they even ripped out the plumbing at order stage to save cash, which as per the nom has back fired.
they are nice little toys
regards
Keepitlit
Scourge of Bad Airline Management!
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Registered as an internet domain in 2002, when things were rather different....
Not registered at Companies House.
I am rather more convinced by the Lufthansa CFO pronouncements about how baby does not fit their model, rather than speculating about 319s.
TA
Not registered at Companies House.
I am rather more convinced by the Lufthansa CFO pronouncements about how baby does not fit their model, rather than speculating about 319s.
TA
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Twin,
Thanks for that.
I tended to agree with you until they bought the remainder of Germanwings for completion at the same time as they acquire the majority of bmi. Building a European low cost airline, perhaps?
Thanks for that.
I tended to agree with you until they bought the remainder of Germanwings for completion at the same time as they acquire the majority of bmi. Building a European low cost airline, perhaps?
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And more: MXP-BRU 3 daily (from 2 daily) and rumours about MXP-FCO and long haul are still alive. From 18th February LH Cargo MXP-JFK-ORD 2/7. This is what I call a good performance 
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Well done Lufthansa making money in what are dire times for most other operators. A good strategy to buy up what's going in the economic gloom and mould it for the future. One kitchen in Frankfurt, many restaurants I believe the LH CEO said!
Even the great Lufty is now rated as junk in terms of credit risk
Lufthansa?s Debt Rating Lowered to Junk by Moody?s (Update2) - Bloomberg.com
Lufthansa?s Debt Rating Lowered to Junk by Moody?s (Update2) - Bloomberg.com
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where indeed
Not very clear at present - suggest you get the S/N's from
planespotters and that with the reg id you search things like google or Flugzeugbilder.de
can't think of anything quicker at this time - sorry
planespotters and that with the reg id you search things like google or Flugzeugbilder.de
can't think of anything quicker at this time - sorry