Swiss International Airlines announced its consolidated financial results for the first half of financial year 2020. Global travel and quarantine restrictions imposed on a global scale impacted SWISS' financial results severely for the first half of 2020. Switzerland’s national flag carrier turned in an operating loss of 266.4 million francs ($291 million) in the first six months of 2020 — a figure that pales in comparison to the net profit of 245.3 million francs in the same period last year…
Deutsche Lufthansa AG shareholders have agreed to support a bailout package from the German government which will assist the airline group to survive in a post-COVID environment. At the ‘Extraordinary General Meeting’ held on Thursday, the €9 billion ($10.1 billion) package which gives the government a 20% stake and two…
The fate of German carrier Lufthansa's federal rescue package will be sealed at the company’s Extraordinary General Meeting June 25, when airline’s shareholders will vote on whether to accept the terms in the deal's current state. Although the bailout has been approved by the state, shareholders still have to give…
Lufthansa plans to cut thousands of jobs in response to the financial turmoil caused by the coronavirus pandemic. Despite the airline agreeing on a €9 billion ($9.8 billion) bailout package with the government, 22,000 jobs are at stake as the company announced on Wednesday after a bargaining summit with the…
German-based Lufthansa Group announced that the German government had approved a large financial stabilization package for the airline group in response to the COVID-19 pandemic. The total package will equate to about 9 billion euros ($9.8 billion) for the operating group. Along with Germany, Lufthansa owns airlines in Austria, Switzerland…
Austrian Airlines announced on Friday that it will resume operating flights on June 7, nearly three months after grounding its fleet in mid-March delaying its resumption of service five times. The move comes in response to the Austrian government's announcement that its borders with Germany and some Schengen area countries…
American serial airline entrepreneur David Neeleman is close to selling his share of Atlantic Gateway, the holding controller of Portuguese flag carrier TAP Air Portugal, to the Lufthansa Group, Portuguese newspaper Jornal de Negocios reported on Sunday. Neeleman controls 50 percent of Atlantic Gateway, which in turn owns 45 percent…
Following the historic Iran nuclear deal, airlines around the world flocked to restart service to the nation’s capital. As the U.S. reimposed sanctions on Iran in late 2018, airlines such as British Airways, Air France and Alitalia pulled their Tehran routes. Some airlines such as KLM pulled out due to…
Lufthansa Group’s SWISS will add new flights to Washington, D.C. and Osaka, Japan beginning in March 2020. These two destinations will be added to SWISS’ long-haul network which already sees service to seven U.S. cities and one other destination in Japan. The flag carrier of Switzerland will become the 35th…
Lufthansa Group’s SWISS will add new flights to Washington, D.C. and Osaka, Japan beginning in March 2020. These two destinations will be added to SWISS’ long-haul network which already sees service to seven U.S. cities and one other destination in Japan. The flag carrier of Switzerland will become the 35th…
