|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||14.60 - 14.80|
|52-week range||14.10 - 24.60|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||27.00|
German airline Lufthansa expects passenger numbers to rise about 4% this year, its chief executive told a newspaper, playing down talk that public support for teenage climate activist Greta Thunberg might be curbing air travel. "At this time we don't see restraint - in fact, the opposite," Carsten Spohr told the NZZ am Sonntag newspaper in the interview published on Sunday. "In comparison to last year, already a record year, we're expecting passenger growth of about 4 percent, (Lufthansa unit) Swiss International Air Lines is also showing growth.
FRANKFURT/BERLIN (Reuters) - Lufthansa's budget airline Eurowings will aim to cut costs by 15% over the next three years and focus on short-haul flights as part of a plan to return to profit by 2021, the German carrier said on Monday. Lufthansa cited falling revenues at Eurowings as a major reason behind a profit warning on June 16. Eurowings' revenue was forecast to drop sharply in the second quarter.
Lufthansa will look at ordering Airbus's new long-range A321XLR jets, Chief Executive Carsten Spohr said on Monday but added that he did not think the new model was a game changer. "The new XLR could be used in our network.
FRANKFURT/BERLIN, June 24 (Reuters) - Lufthansa's budget airline Eurowings will aim to cut costs by 15% over the next three years and focus on short-haul flights as part of a plan to return to profit by 2021, the German carrier said on Monday. Lufthansa cited falling revenues at Eurowings as a major reason behind a profit warning on June 16. Eurowings' revenue was forecast to drop sharply in the second quarter.
German carrier Lufthansa on Monday said it would start pegging its dividend payout ratio to net profit in the future, adding this would give the group, which issued a profit warning a week ago, more flexibility. Lufthansa said it would pay out a regular dividend of 20-40% of net profit, adjusted for one-off gains and losses, in the future. Its previous dividend policy was based on a payout ratio of 10-25% of earnings before interest and tax.
(Bloomberg) -- Airlines worldwide are diverting flights away from southern Iran, lengthening travel times, after the Federal Aviation Administration issued an edict barring American operators from the region amid escalating tensions with the Persian Gulf country.Deutsche Lufthansa AG, Dutch carrier KLM and Qantas Airways Ltd of Australia are among carriers re-routing long-haul services to avoid the Strait of Hormuz, where the U.S. has blamed Iran for attacks on shipping and an American drone was shot down on Wednesday. United Airlines suspended flights between Newark, New Jersey, and Mumbai that regularly pass over the area.“We closely follow all developments that may be related to the safety of airspace,” KLM, the Dutch arm of Air France-KLM, said. “The incident with the drone is reason not to fly over the Strait of Hormuz for the time being. This is a precautionary measure.”A so-called notice to airmen from the FAA says airline flights above the Tehran flight-information region of the Persian Gulf and Gulf of Oman are prohibited until further notice “due to heightened military activities and increased political tensions.” Those circumstance present an inadvertent risk to planes in the form of “potential miscalculation or mis-identification.”Chicago-based United said in an emailed statement that it had conducted “a thorough safety and security review” of its India service in light of recent events and decided to suspend the route.Lufthansa has been avoiding the Strait of Hormuz and the Gulf of Oman since Thursday and has now expanded that zone in line with the FAA’s advice, which may result in “slightly longer flight times between Europe and India,” spokesman Thomas Jachnow said. Services to Tehran operated by the carrier and its Austrian Airlines unit aren’t affected.British Airways, Singapore Airlines Ltd., Malaysia Airlines Bhd. and Qantas are also diverting inter-continental flights away from the area, according to reports, though not all global carriers are affected, with KLM’s sister company Air France saying relevant services are already routed further south.In the region itself, the United Arab Emirates civil aviation authority ordered carriers on Saturday to avoid risky air space, a day after some airlines took their own measures. Dubai-based Emirates, the world’s biggest long-haul airline, said on Friday it rerouted flights away from areas of possible conflict, while Abu Dhabi-based Etihad Airways said it was evaluating the FAA directive and would consult with the United Arab Emirates civil aviation authority. Discount carrier FlyDubai said it would adjust some flight paths as a precautionary measure.U.S. and Iranian officials have differing accounts of whether the high-altitude U.S. Navy drone was over international or Iranian waters when it was shot down. The downing comes after weeks of rising tensions, including attacks on cargo ships that the U.S. has also blamed on Iran.Though an Iranian military officer was quoted by state-run media as saying the drone was shot down in order to send a “clear message,” President Donald Trump downplayed the incident, saying it “could have been somebody who was loose and stupid.”(Updates with U.A.E. measures in eighth paragraph.)\--With assistance from Sarah Jacob, Wout Vergauwen, Ania Nussbaum and Dana Khraiche.To contact the reporters on this story: Christopher Jasper in London at email@example.com;Richard Weiss in Frankfurt at firstname.lastname@example.org;Layan Odeh in Dubai at email@example.comTo contact the editor responsible for this story: Anthony Palazzo at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
German airline Lufthansa will speed up cost cutting to try to boost productivity at its low-cost Eurowings subsidiary as it battles to defend market share in a competitive European market, Chief Executive Carsten Spohr said. "After quick growth in recent years we will first and foremost reduce complexity and costs (at Eurowings)," Spohr said in an interview with German weekly magazine Der Spiegel. Poor margins at Eurowings compared with sector rivals were cited by the group as a major reason for a profit warning on Sunday.
A German union plans a cabin crew walkout in July at Lufthansa's budget Eurowings unit over a pay dispute, it said on Thursday, adding pressure on the airline while it struggles with rising fuel costs and low revenues. The UFO union, which represents cabin crew, threatened a prolonged walkout if Lufthansa did not accept its demands that include higher wages for staff. At a news conference, a UFO board member said its members would vote on the walkout plans at Eurowings, which also includes the Germanwings airline.
Shares in European airlines have plunged after Lufthansa blamed intense short haul competition for a profit warning. Rival airlines including easyJet and Ryanair have also come under pressure, as higher fuel costs place margins at risk. There have been a string of recent casualties with Monarch, Flybmi, Germania, Air Berlin and Wow collapsing.
* STOXX flat to slightly higher ahead of Fed meeting * Lufthansa tumbles 12% after profit warning * EasyJet, Ryanair, Air France, fall more than 4% * Travel & leisure sector falls 1.3% * Lift-off for Airbus shares as Paris Airshow kicks off June 17 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: email@example.com CLOSING SNAPSHOT: SUBDUED CLOSE IN EUROPE (0551 GMT) European shares ended the day flat to slightly higher on below-average volumes trade as investors stayed on the sidelines ahead of the Federal Reserve's policy meeting later this week and gains in aerospace shares helped offset heavy losses across airlines.
* STOXX turns negative, last down 0.1% * Lufthansa tumbles 11% after profit warning * EasyJet, Ryanair, Air France, fall 4% to 6% * Travel & leisure sector falls 1.5% June 17 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. The race to become PM has been acrimonious and passionate, with former foreign secretary Boris Johnson, the leader in the polls so far, dividing opinions. "The gossip, backbiting, infidelity and stories of drug-taking would frankly not seem out of place on a reality TV show," writes Bluebay Chief Investment Officer Mark Dowding.
* STOXX turns negative, last down 0.1% * Lufthansa tumbles 11% after profit warning * EasyJet, Ryanair, Air France, fall 4% to 6% * Travel & leisure sector falls 1.5% June 17 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: firstname.lastname@example.org ARE INVESTORS FINALLY WARMING TO EUROPE? A survey of 41 of its top clients by Morgan Stanley suggests so with 43% saying that Europe is their preferred region for equities over the next 12 months, followed by U.S. (34%), emerging markets (11%), Japan (9%) and UK (3%).
European stock markets closed marginally lower on Monday with a profit warning from Germany's Lufthansa hitting airline stocks, while markets globally awaited clues from the U.S. Federal Reserve on its policy direction. The pan-European STOXX 600 index finished 0.1% lower.
London's main index inched up on Monday as rises in banking shares outweighed the impact of a profit alert from Germany's Lufthansa on airlines, while UK contractor Kier Group skidded to an all-time low. Both the FTSE 100 index and the FTSE 250 midcap index ended 0.2% higher.
Both the FTSE 100 index and the FTSE 250 midcap index ended 0.2% higher. With the spotlight on Wednesday's U.S. Federal Reserve policy decision, the banking index broke a four-day losing streak with a 0.9% rise, led by Asia-exposed banks including HSBC and Prudential after Hong Kong's leader backed down over an extradition bill that has sparked mass protests. "It's hard to recall a time we headed into an FOMC meeting with so much at stake and with so much uncertainty about what might be agreed," Markets.com analyst Neil Wilson said.
The pan-European STOXX 600 index finished 0.1% lower. France's CAC 40 was led higher by luxury stocks, while IT company Indra Sistemas' 7.1% slip took Spain's IBEX 35 0.7% lower. At the U.S. Federal Reserve policy meeting starting Tuesday, investors on balance think an interest rate cut is unlikely while many back a shift towards one in July.