Deutsche Lufthansa AG (LHA.F)
- Reuters
Lufthansa, Air France-KLM to cut costs after tough first quarter
LONDON/GDANSK/FRANKFURT (Reuters) -Two of Europe's top airline groups, Lufthansa and Air France-KLM, announced plans to cut costs after reporting wider first-quarter losses on Tuesday as they faced high customer payouts due to flight disruptions and labour disputes. The first quarter is often a loss-making one for airlines, with fewer bookings. Air France-KLM said it would tighten spending for the rest of the year, including a freeze on hiring support staff and a vow to stabilise operations, particularly at carrier KLM.
- Reuters
EU decision on Lufthansa's ITA deal extended to June 13
EU antitrust regulators have extended the deadline on their decision on Lufthansa's 325 million euro ($348.5 million) bid for a 41% stake in state-owned ITA by a week to June 13, according to the European Commission website. The Commission has voiced concern about the proposed deal's impact on competition on short-haul routes between Italy and Central European countries, as well as on long-haul routes between Italy and the United States, Canada and Japan. The Italian government has urged the Commission to issue a timely decision on the fate of ITA, the successor to flag carrier Alitalia.
- Reuters
Lufthansa, ITA to give up 11 slots in Milan to get EU go ahead for tie-up - newspaper
ROME (Reuters) -Germany's Lufthansa and Italian rival ITA will offer to cede 11 pairs of slots a day at Milan's Linate airport in order to secure the EU's green light for their proposed tie-up, Italian newspaper Corriere della Sera reported on Sunday. On Friday, the Italian economy minister said the two airlines would propose further remedies after Lufthansa's latest proposals were rejected by the Commission as insufficient. "We have developed a comprehensive, constructive solution to address the competition concerns raised by the authority regarding the relevant routes and the situation at Milan Linate airport," a spokesperson for Lufthansa said on Sunday, adding that the company can't comment on the details of the process.
