Month: May 2020

(Bloomberg) — The German government’s 9 billion-euro ($9.8 billion) bailout of Deutsche Lufthansa AG may cost the stricken carrier some valuable assets: Key flight slots at airports in Frankfurt and Munich.The European Commission wants Lufthansa to surrender the slots out of concern the aid will give the carrier unfair advantage over competitors, people familiar with the matter said.After weeks of talks, Germany on Monday offered Lufthansa a package of loans and equity investment to keep the carrier aloft through the coronavirus storm. = Officials in Brussels are concerned the deal will distort competition and fuel lawsuits from competitors like Ryanair …read more […]

May.26 — Germany will offer Deutsche Lufthansa AG a $9.8 billion bailout that includes the nation taking an initial 20% stake in the airline. The plan is subject to approval by the European Union. Bloomberg’s Benedikt Kammel reports on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Dominic Cummings, Boris Johnson’s most senior adviser, refused to quit his job in the U.K. government, refuting claims he flouted lockdown rules that he had helped to draft.Japan ended its state of emergency everywhere in the country and made reviving the economy its top priority. Singapore is set to unveil a fourth stimulus package. Indonesia deployed its army to enforce social-distancing rules.Germany agreed on a 9 billion euro ($9.8 billion) bailout for virus-hit airline Lufthansa. The country recorded a decline in new coronavirus cases, while the infection rate dropped further below the key threshold of 1.0.Key Developments:Virus Tracker: …read more […]

The struggling luxury carmaker says goodbye to Andy Palmer and welcomes Tobias Moers. …read more […]

LATAM is the latest corporate victim of the coronavirus pandemic that has brought a virtual halt to air travel, joining Colombia’s Avianca Holdings SA and Australia’s Virgin Australia Holdings Ltd in bankruptcy protection as it seeks to restructure its debt. “We have implemented a series of difficult measures to mitigate the impact of this unprecedented industry disruption, but ultimately this path represents the best option,” LATAM Chief Executive Officer Roberto Alvo said in a statement. …read more […]

U.S. leisure travelers often buy airfare months ahead of departure, betting they can score a deal with shrewd advance planning. But in these atypical times, that may not be the best strategy — provided they want to fly what they bought. That’s because many airlines have not yet decided what they’re going to fly more […] …read more […]