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Lufthansa aims to repay state aid before German election - CEO
  + stars: | 2021-06-18 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Planes of German air carrier Lufthansa are parked at Frankfurt airport in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach/File PhotoBERLIN, June 18 (Reuters) - Lufthansa (LHAG.DE) wants to repay state aid it received during the pandemic before Germany's federal election in September if possible, the airline's chief executive said on Friday. "We were one of the first companies to be rescued by the federal government. We also want to be one of the first companies to pay back the rescue funds - hopefully before the federal election. We are working on that," Chief Executive Carsten Spohr told an aviation conference.
Persons: Kai Pfaffenbach, Carsten Spohr, Ilona Wissenbach, Caroline Copley Organizations: Lufthansa, REUTERS, Thomson Locations: Frankfurt, Germany
Germany wants to exit Lufthansa stake as soon as possible- minister
  + stars: | 2021-06-18 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A flag of German air carrier Lufthansa flutters in the wind on the day of the airline's annual general meeting at the airport in Frankfurt, Germany, May 4, 2021. REUTERS/Kai Pfaffenbach/File PhotoBERLIN, June 18 (Reuters) - Germany wants to exit its stake in flagship carrier Lufthansa (LHAG.DE) as soon as possible, Transport Minister Andreas Scheuer said on Friday. "Lufthansa must not be under state influence forever ... And we also want to minimise the influence of the state and we want the success path to mean that the state goes out again as soon as possible," he told an aviation conference. Lufthansa was pushed to the brink by the coronavirus pandemic in 2020, when travel restrictions led to a collapse in air travel, forcing it to take 9 billion euros ($11 billion) in aid from Germany and its other home countries. ($1 = 0.8394 euros)Reporting by Ilona Wissenbach and Klaus Lauer Writing by Caroline Copley Editing by Riham AlkousaaOur Standards: The Thomson Reuters Trust Principles.
Persons: Kai Pfaffenbach, Andreas Scheuer, Ilona Wissenbach, Klaus Lauer, Caroline Copley, Riham Organizations: Lufthansa flutters, REUTERS, Lufthansa, Thomson Locations: Frankfurt, Germany
Lufthansa to allow check-in with digital vaccine pass
  + stars: | 2021-06-17 | by ( ) www.reuters.com sentiment -0.94   time to read: +2 min
BERLIN, June 17 (Reuters) - Lufthansa (LHAG.DE) will allow passengers to use new digital COVID-19 vaccination certificates at check-in for their flights, the German airline said on Thursday. Lufthansa said passengers would be able to show the digital proof of vaccination either on their phones or on a printout when checking in at the airport, and the boarding pass would then be issued. It also significantly reduces the risk of misuse of fake vaccination certificates," Lufthansa said. Lufthansa said on selected routes it would also soon be possible to use the digital vaccination certificate to check in via smartphone using the airline's app. Lufthansa said it still recommends that passengers carry their original printed vaccination certificates with them on their journey until further notice.
Persons: Emma Thomasson, Gareth Jones Organizations: Lufthansa, TUI, European Union, Thomson Locations: BERLIN, Germany, Frankfurt, Mombasa, European
PARIS (Reuters) - Cathay Pacific is working with Airbus to introduce “reduced crew” long-haul flights with a sole pilot in the cockpit much of the time, industry sources told Reuters. FILE PHOTO: A Cathay Pacific Airways Airbus A350-900 airplane approaches to land at Changi International Airport in Singapore June 10, 2018. Commercial implementation would first require extensive testing, regulatory approval and pilot training with “absolutely no compromise on safety”, Cathay said. Single-pilot operations, currently limited to planes with up to nine passengers, would need backing from U.N. aviation body ICAO and countries whose airspace they cross. Proponents suggest single-pilot operations may be accepted by a flying public used to crew leaving the cockpit for bathroom breaks.
Persons: Tim Chong, , Christophe Cail, “ We’ve, ” Cail, ” EASA, Patrick Ky, , Otjan de Bruijn, De Bruijn, Filippo Tomasello, ” Tomasello Organizations: PARIS, Cathay, Airbus, Cathay Pacific Airways Airbus, Changi International, REUTERS, Project, Lufthansa, Reuters, Cathay Pacific Airways, Hong Kong, European Union Aviation Safety Agency, , European Cockpit Association, EU, Air, Connect, Boeing Locations: Cathay Pacific, Changi, Singapore, Hong
REUTERS/Tim Chong/File PhotoSummary Cathay, Airbus collaborating on single-pilot projectProgramme targets 2025 launch on Cathay A350s - sourcesAirlines stand to save on long-haul crew costsPARIS, June 16 (Reuters) - Cathay Pacific (0293.HK) is working with Airbus (AIR.PA) to introduce "reduced crew" long-haul flights with a sole pilot in the cockpit much of the time, industry sources told Reuters. The programme, known within Airbus as Project Connect, aims to certify its A350 jet for single-pilot operations during high-altitude cruise, starting in 2025 on Cathay passenger flights, the sources said. Commercial implementation would first require extensive testing, regulatory approval and pilot training with "absolutely no compromise on safety", Cathay said. Single-pilot operations, currently limited to planes with up to nine passengers, would need backing from U.N. aviation body ICAO and countries whose airspace they cross. Proponents suggest single-pilot operations may be accepted by a flying public used to crew leaving the cockpit for bathroom breaks.
Persons: Tim Chong, Christophe Cail, We've, Cail, EASA, Patrick Ky, de Bruijn, De Bruijn, Filippo Tomasello, Tomasello, Laurence Frost, Jamie Freed, Mark Potter Organizations: Cathay Pacific Airways Airbus, Changi International, REUTERS, Cathay, Airbus, Airlines, Reuters, Project, Lufthansa, Cathay Pacific Airways, Hong Kong, European Union Aviation Safety Agency, European Cockpit Association, EU, Air, Connect, Boeing, Thomson Locations: Changi, Singapore, PARIS, HK, Hong, Sydney
Tui share sale may cast shade on investors’ summer
  + stars: | 2021-06-16 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Investors in Tui (TUIGn.DE) may soon feel similar discomfort. Europe’s largest package tour group is exploring raising 1 billion euros to repay copious state aid , Bloomberg reported on Wednesday. Coming shortly after a 500 million euro capital increase – plus a 400 million euro convertible bond issued in April – the move smacks of opportunism. If Tui boss Friedrich Joussen does tap shareholders for the cash it is unlikely to be for the last time. Net debt of roughly 6.8 billion euros is over 4 times estimated EBITDA for 2022, even though the metric is projected to exceed pre-pandemic levels that year, according to Refinitiv data.
Persons: Paul Hanna, Tui, Friedrich Joussen, Christopher Thompson, Peter Thal Larsen, Oliver Taslic Organizations: Palma de Mallorca, REUTERS, Paul Hanna LONDON, Reuters, Bloomberg, Deutsche Lufthansa, Equity, Mizuho Locations: Palma de, Spain, Greece, Tui, U.S
Slow Recovery in Long-Haul Travel Weighs Heavily on Emirates, Lufthansa
  + stars: | 2021-06-15 | by ( Benjamin Katz | ) www.wsj.com sentiment -1.00   time to read: +1 min
Emirates Group posted a $6 billion annual loss and Deutsche Lufthansa AG said it was cutting another 10,000 jobs, as two of the world’s biggest international airlines braced for a slow resumption of long-haul travel. Emirates and Lufthansa, both dependent on international and business travel, have been among the hardest airlines by the pandemic. Global traffic—international and domestic—is at around half of its pre-pandemic levels, Airbus SE sales chief Christian Scherer said Tuesday. Domestic travel, led by the recovery in the U.S. and China, is now at around 80% of 2019 demand, with international travel at 27%. The airline swung to its first loss in 30 years, having posted a profit of $456 million a year earlier.
Persons: Christian Scherer Organizations: Emirates, Deutsche Lufthansa AG, Lufthansa, Airbus, world’s, Boeing Co, Dubai . Emirates Locations: U.S, China, Dubai .
Emirates joins airlines’ high-loss club
  + stars: | 2021-06-15 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
An Emirates plane is seen at Lisbon’s airport in Portugal, June 24, 2016. The Gulf airline, owned by the government of Dubai, on Tuesday posted a $6 billion loss for 2020. Aggressive cost-cutting by Emirates’ state backers averted a worse financial disaster. For a state-owned company, the airline’s job-cutting zeal stands out. Strong unions and Berlin’s weak hand on the Lufthansa joystick, courtesy of a 9 billion euro government bailout, mean they’re not set in stone.
Persons: Rafael Marchante, Ed Cropley Organizations: REUTERS, Rafael Marchante Emirates, Gulf airline, London, International Airlines Group, British Airways, Air France, KLM, Deutsche Lufthansa, Emirates, Staff, Lufthansa Locations: Emirates, Portugal, Dubai, Singapore
Lufthansa sets 2024 goal, eyes capital increase
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -0.99   time to read: 1 min
Planes of German air carrier Lufthansa are parked at Frankfurt airport in Frankfurt, Germany, June 2, 2020. REUTERS/Kai PfaffenbachGermany's flagship carrier Deutsche Lufthansa (LHAG.DE) said it aims to boost its return on capital employed (ROCE) and laid out plans for a capital increase as it prepares for a business recovery amid an easing coronavirus pandemic. The largest German airline aims to have an adjusted EBIT margin of at least 8% and an adjusted ROCE of at least 10% in 2024, it said late on Monday. Adjusted ROCE was –16.7% in 2020 and 6.6% in 2019. The group added it had mandated banks to prepare a possible capital increase, though size and timing have not yet been determined and the German state, which has bailed out the airline during the pandemic, has not yet given its approval.
Persons: Kai Pfaffenbach Organizations: Lufthansa, REUTERS, Deutsche Lufthansa, Thomson Locations: Frankfurt, Germany
Germany's Lufthansa plots course for leaner post-pandemic future
  + stars: | 2021-06-14 | by ( Thomas Escritt | ) www.reuters.com + 0.00   time to read: +2 min
Planes of German air carrier Lufthansa are parked at Frankfurt airport in Frankfurt, Germany, June 2, 2020. REUTERS/Kai PfaffenbachGermany's Lufthansa (LHAG.DE) moved closer to a capital increase, outlining plans for a post-pandemic return to profit as a leaner airline with a smaller fleet and fewer staff. In May, shareholders gave approval for the group to raise up to 5 billion euros, although the company said it would not need the full amount. Any proceeds could go towards paying back the 6.8 bln euros state aid given by Germany. The plans envisage cutting costs by 3.5 billion euros by 2024 compared to 2019, including a 1.8 billion euro reduction in staff costs, and a fleet that will be 20% smaller but more efficient.
Persons: Kai Pfaffenbach Germany's, Carsten Spohr, Lufhansa, Airplus, today's, Bernstein, Daniel Roeska Organizations: Lufthansa, REUTERS, Kai Pfaffenbach Germany's Lufthansa, Lufthansa Technik, Investors, Thomson Locations: Frankfurt, Germany, Austria, Belgium, Switzerland
Ryanair, Europe's largest budget airline, is expanding to more than 100 domestic routes this summer from 60 before the pandemic. It could move ahead of Alitalia on its home turf in the second quarter, according to consulting firm AlixPartners. "We are now moving to the next level" in Italy, by building outbound bases and moving into the "very significant" domestic market, Wizz Air CEO Jozsef Varadi told Reuters. Wizz is set to grow from zero to 10% of the domestic market this summer, AlixPartners said. "Since they have no competitors, the low-cost airlines do what they want," said Franco Gattinoni, chairman of major Italian travel firm Gattinoni.
Persons: Kacper, AlixPartners, Jozsef Varadi, Franco Gattinoni, Gattinoni, Eddie Wilson, Wilson, Michele Mauri, James Halstead, Fabio Lazzerini, Davy Stockbrokers, Stephen Furlong, Furlong Organizations: Air Airbus, London Luton Airport, REUTERS, Alitalia, Ryanair, Italia, European Commission, Wizz, Reuters, Air, Lufthansa, Ryanair DAC, Ryanair Group, AlixPartners, Aviation, ITA, Thomson Locations: Luton, Britain, Rome, Italy, Milan, EU, Italian, AlixPartners Italy, Europe
Lufthansa's low-cost airline Eurowings to open Prague base
  + stars: | 2021-06-11 | by ( ) www.reuters.com + 0.99   time to read: +1 min
FILE PHOTO:Eurowings airliner lands at Palma de Mallorca Airport following Berlin's lifted quarantine requirement for travellers returning from the Balearic Islands amid the coronavirus disease (COVID-19) pandemic, Palma de Mallorca, Spain March 21, 2021. REUTERS/Enrique CalvoGerman airline Lufthansa's (LHAG.DE) said on Friday its budget carrier Eurowings would open a new base in Prague with two aircraft in October, in a sign of growing confidence in the recovery of air travel as COVID-19 curbs ease. Eurowings will station two Airbus A320 aircraft in the Czech capital from Oct. 31 and offer low-cost direct flights to major European cities like Barcelona, Milan and Copenhagen and holiday destinations such as the Canary Islands. From the summer of 2022, it will add a third aircraft to the base, which will create more than 100 new jobs. Our Standards: The Thomson Reuters Trust Principles.
Persons: Enrique Calvo Organizations: Palma de Mallorca, REUTERS, Airbus, Thomson Locations: Palma, Balearic, Palma de, Spain, Prague, Czech, Barcelona, Milan, Copenhagen, Canary
Crisis-hit EU airlines seek 'more balanced' passenger rights
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Airlines for Europe (A4E), which represents the region's biggest carriers, said the so-called EU261 regulation had severely exacerbated the financial crisis for many airlines. "We're looking for a more balanced approach to consumer protection," Air France-KLM Chief Executive Ben Smith said, adding that the European Union's passenger rights law was "one of the most punitive" in the world. The European Commission indicated it was not ready to consider any weakening of passenger rights. "We have always tried to strike the right balance between consumer protection and the protection of the tourism and transport industry," an EU official said. "The continued and improved protection of passenger rights is crucial to ensuring the necessary consumer trust in the transport sector."
Persons: Christian, Ben Smith, Smith, Johan Lundgren Organizations: Air, Air France Airbus, Charles, REUTERS, Christian Hartmann, Airlines for, Air France, KLM, Lufthansa, Ryanair, European Commission, EU, Thomson Locations: Air France, Gaulle, Roissy, Paris, France, Airlines for Europe
A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit TessierAirbus (AIR.PA) and Air France-KLM (AIRF.PA) have urged policymakers to use EU-backed green stimulus funds to support aircraft sales, according to documents released on Thursday by InfluenceMap, an investor-led climate lobbying watchdog. "Support could take the form of a 'green stimulus' subsidy scheme," according to an Air France-KLM "key messages" digest dated March 26. Another BNP-led demand for climate lobbying disclosures by Delta Air Lines (DAL.N) has been endorsed by influential proxy advisers ISS and Glass Lewis ahead of next Thursday's shareholder meeting. "The idea that we have 'actively lobbied' against EU climate policies to reach these targets is false," A4E said.
Persons: Benoit Tessier Airbus, InfluenceMap, Frans Timmermans, Glass Lewis, A4E Organizations: Airbus, REUTERS, Air France, KLM, European Commission, Exxon, BNP, Airlines, Delta Air Lines, Industry, Airlines for, Lufthansa, Ryanair, SAF, EU, Thomson Locations: Blagnac, Toulouse, France, Air France, Paris, Brussels, United States, Europe, Airlines for Europe, COVID
(Reuters) -European stocks steadied near record highs on Wednesday, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and U.S. inflation reading later this week. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 8, 2021. REUTERS/Staff/File photoThe pan-European STOXX 600 index slipped 0.1% in morning trade, but stayed just short of a record high of 455.66 hit in the previous session. The wider travel and leisure index rose 0.7% as many European economies charted their way out of COVID-19 lockdowns. “Inflation is creating uncertainty about what central banks will do or say going forward,” said Emmanuel Cau, European equity strategist at Barclays.
Persons: IAG, Germany’s DAX, , Emmanuel Cau, SalMar Organizations: Reuters, European Central Bank, REUTERS, Staff, Air France KLM, Lufthansa, British Airways, U.S, CDC, Big, Rio Tinto, BHP Group, CAC, U.S . Federal, ECB, Barclays, , Danone, RBC Locations: Frankfurt, Germany, COVID, Rio, American, , Oslo
(Reuters) -European stocks remained near record highs on Wednesday, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and a U.S. inflation reading later this week. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 8, 2021. REUTERS/Staff/File photoThe pan-European STOXX 600 index closed 0.1% higher, but stayed just short of a record high of 455.66 hit in the previous session. The wider travel and leisure index rose 0.9% as many European economies charted their way out of COVID-19 lockdowns. Oslo-based salmon farmer SalMar fell 5.3% to the bottom of the STOXX 600 after it completed a private placement deal.
Persons: IAG, Germany’s DAX, , Chris Beauchamp, Emmanuel Cau, SalMar Organizations: Reuters, European Central Bank, REUTERS, Staff, Air France KLM, Lufthansa, British Airways, U.S . Centers for Disease Control, Prevention, Big, Rio Tinto, BHP Group, CAC, IG, U.S, U.S . Federal, ECB, Barclays, , Danone, RBC Locations: U.S, Frankfurt, Germany, COVID, Rio, American, U.S ., , Oslo
European shares linger near record levels, airlines rise
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)June 9 (Reuters) - European stocks held steady near all-time highs, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and U.S. inflation reading later this week. The pan-European STOXX 600 index was flat in early trading, just short of a record high of 455.66 hit in the previous session. Airlines, including Air France KLM, Lufthansa and British Airways-owner IAG, rose more than 1% after the U.S. CDC said it was easing travel recommendations on 110 countries and territories. Spanish retail giant Inditex rose 1.3% after reporting a first-quarter net profit of 421 million euros ($513 million) that easily beat analysts’ expectations. French food group Danone slipped 1.5% after RBC downgraded the stock to “under perform”.
Persons: IAG, Sruthi Shankar, Sriraj Kalluvila Organizations: European Central Bank, Airlines, Air France KLM, Lufthansa, British Airways, U.S, CDC, Danone, RBC Locations: Bengaluru
Stocks hover near highs as bond yields dip
  + stars: | 2021-06-09 | by ( Herbert Lash | Tom Arnold | ) www.reuters.com + 0.00   time to read: +4 min
NEW YORK/LONDON (Reuters) - World stocks hovered near record highs and U.S. bond yields fell on Wednesday as some of U.S. President Joe Biden’s stimulus efforts appeared to be on the rocks, boosting the appeal of technology stocks as inflation pressures ease. The yield on benchmark 10-year U.S. Treasury notes fell 3.7 basis points to 1.4908%, down from 1.528% late on Tuesday. MSCI’s all-country world index, a U.S.-centric benchmark for global equity markets, fell 0.06% to 716.53, down a little more than 1 point from a record peak on Tuesday. The pan-regional STOXX Europe 600 index rose 0.1% to a new record close, but shy of all-time peak on Tuesday. CURRENCIES STEADYInflation data from China showed its producer price index jumped 9.0% from a year earlier, the highest in over 12 years, on surging commodity prices.
Persons: Joe, Brendan McDermid, Elizabeth MacDonough, Sebastien Galy, Joe LaVorgna, , Biden, ” LaVorgna, MSCI’s, Dennis Dick, ” Dick, Britain’s, IAG Organizations: New York Stock Exchange, REUTERS, Senate, Democratic, Nordea Asset Management, Treasury, Dow Jones, Nasdaq, Bright Trading, Apple, GameStop, European Central Bank, Britain’s FTSE, Air France KLM, Lufthansa, British Airways, U.S . Centers for Disease Control, Prevention, Nikkei, Thursday’s, U.S, Deutsche, Brent Locations: U.S, New York City, Treasuries, Natixis, Europe, Asia, Pacific, Japan, Thursday’s U.S, China, Beijing
Boeing notches big 737 MAX order in May; 787 deliveries drop
  + stars: | 2021-06-08 | by ( Eric Johnson | ) www.reuters.com sentiment -1.00   time to read: +2 min
In addition to the 10 737 MAX jets, Boeing said it delivered two 787 Dreamliners to airlines in May. Boeing's jet deliveries are closely scrutinized by investors because they generate much-needed cash for a company weathering fallout from the coronavirus pandemic and an earlier safety crisis following two 737 MAX crashes. The gross orders were comprised of 61 737 MAX jets, including a fresh order of 34 from a buyer Boeing declined to identify, and five 787-9 Dreamliners and one 777 freighter for Germany's Lufthansa (LHAG.DE). Norwegian Air (NORR.OL) and Mexican airline Aeromexico canceled 48 737 MAX orders in May. Boeing said its official backlog grew to 4,121 aircraft orders in May, from 4,045 in April.
Persons: planemaker, Gross Organizations: Boeing Co, Boeing, Federal Aviation Administration, United Parcel Service Inc, FedEx Corp, Lufthansa, Norwegian, Aeromexico, Thomson Locations: Chicago
Boeing delivers 10 737 MAXs, fewer 787s, in May
  + stars: | 2021-06-08 | by ( Eric Johnson | ) www.reuters.com + 0.00   time to read: +2 min
Grounded Boeing 737 MAX aircraft are seen parked in an aerial photo at Boeing Field in Seattle, Washington, U.S. July 1, 2019. In addition to the 10 737 MAX jets, Boeing said it delivered two 787 Dreamliners to airlines in May. Norwegian Air (NORR.OL) and Mexican airline Aeromexico canceled 48 737 MAX orders in May. Net orders after accounting adjustments were 177 aircraft for the same period, Boeing said, up from 84 planes in April. Boeing said its official backlog grew to 4,121 aircraft orders in May, from 4,045 in April.
Persons: Lindsey Wasson, planemaker, Gross Organizations: Boeing, MAX, Boeing Field, REUTERS, Lindsey Wasson Boeing Co, Federal Aviation Administration, United Parcel Service Inc, FedEx Corp, Southwest Airlines Co, Lufthansa, Aeromexico, Thomson Locations: Seattle , Washington , U.S, Chicago, U.S, Norwegian
Travel, real estate stocks take European shares to fresh peaks
  + stars: | 2021-06-08 | by ( Sruthi Shankar | ) www.reuters.com sentiment -1.00   time to read: +2 min
(Reuters) -European stocks hit new highs on Tuesday, lifted by travel and real estate shares, but weak German industrial output data and doubts over the United Kingdom lifting restrictions later this month capped gains. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 7, 2021. REUTERS/StaffThe pan-European STOXX 600 index was flat after notching a record high earlier, with sectors considered more stable such as real estate and telecoms leading the gains. The travel and leisure index rose 0.7%, supported largely by gains in low-cost carrier easyJet after Goldman Sachs upgraded the stock to “buy”. Swiss contract drugmaker Lonza gained 4.5% after Goldman Sachs upgraded the stock to “buy”, while German airline Lufthansa fell 2.9% after the brokerage downgraded the stock to “sell”.
Persons: Goldman Sachs, , Teeuwe Mevissen, drugmaker Lonza Organizations: Reuters, REUTERS, Staff, Rabobank, , Tobacco, Times, Global, European Central Bank, ECB, Federal Reserve, German, Lufthansa Locations: United Kingdom, Frankfurt, Germany
European shares at fresh peaks as travel, real estate stocks lead
  + stars: | 2021-06-08 | by ( Sruthi Shankar | Shreyashi Sanyal | ) www.reuters.com sentiment -1.00   time to read: +2 min
(Reuters) -European stocks hit new highs on Tuesday, lifted by travel and real estate shares, but weak German industrial output data and doubts over Britain lifting restrictions later this month capped gains. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 7, 2021. The travel and leisure index rose 1.8%, supported largely by gains in low-cost carrier easyJet after Goldman Sachs upgraded the stock to “buy”. German stocks fell 0.2% after data showed industrial output fell unexpectedly in April, in a further sign that semiconductor shortages and other supply bottlenecks are hampering the recovery in Europe’s largest economy. Global markets were mixed ahead of a policy meeting of the European Central Bank and U.S. inflation data this week.
Persons: Goldman Sachs, , Andrew Kenningham, drugmaker Lonza Organizations: Reuters, REUTERS, Staff, Capital Economics, Tobacco, Times, European Central Bank, ECB, Federal Reserve, German, Lufthansa Locations: Frankfurt, Germany, Europe
Airbus delivered 50 jets in May, Lufthansa rejigs A350 orders
  + stars: | 2021-06-07 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
Slideshow ( 2 images )PARIS (Reuters) - Airbus delivered 50 airplanes in May, bringing its total so far this year to 220 jets, up 38% from the same period last year, the European planemaker said on Monday. Airbus also confirmed an order of five A350 wide-bodied jets from Germany’s Lufthansa, announced by the airline last month. But Airbus data released on Monday showed that the German airline had also simultaneously cancelled three previous A350 orders, resulting in a net addition of two A350 jets. An Airbus spokesman confirmed the mixture of cancellations and orders. Boeing has been wrestling with 787 production difficulties, while both planemakers face a slump in demand for wide-bodied long-haul jets exacerbated by the coronavirus pandemic.
Persons: planemaker Organizations: Airbus, Dubai’s Emirates, Lufthansa, Boeing Locations: PARIS
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Persons: Chase, We're, DashPass, Read, you'll, That's, Holly Johnson Organizations: American, Chase, Sapphire Reserve, Business, Chevron, Sapphire, Chase Freedom, Ink, Apple, Chase Sapphire Reserve, Chase Sapphire, United Airlines, Star Alliance, Air Canada, Lufthansa, Singapore Airlines, British Airways, Oneworld, American Airlines, Cathay, Air France, KLM, Blue, Korean, Sundance Film, TAP Air Portugal, Southwest Airlines, IHG, Bonvoy, Hyatt, Marriott Locations: Chase, Air, Delta, Milan, Italy, Europe, Caribbean, Mexico, Amsterdam, Paris, Singapore, West Coast, Hawaii, IHG.com, Florence, Grand Cayman, Bora Bora, Greece
Germany may take part in Lufthansa capital increase
  + stars: | 2021-06-02 | by ( Michael Nienaber | ) www.reuters.com sentiment -0.98   time to read: +2 min
BERLIN (Reuters) - Germany is considering participating in a planned 3 billion euro ($3.7 billion) capital increase at Lufthansa, Finance Minister Olaf Scholz told Reuters on Wednesday, a move that could help to repay the airline’s state-backed bailout. REUTERS/Kai Pfaffenbach/File PhotoReuters last month reported that Lufthansa was working with Deutsche Bank and Bank of America on plans for a capital increase in either the summer or autumn. Citing unidentified sources familiar with the matter, it said the government could sell part of its subscription rights and use the proceeds to purchase new shares. Alternatively, it could make use of more of its subscription rights and spend up to 1 billion euros. Scholz said any decision on a capital increase should not be rushed.
Persons: Olaf Scholz, Kai Pfaffenbach, , Scholz Organizations: BERLIN, Lufthansa, Finance, Reuters, Lufthansa flutters, REUTERS, Deutsche Bank and Bank of America, European Commission, Bloomberg Locations: Germany, Frankfurt
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