Lufthansa Board Blocks Financing Plan - Report
December 7, 2014
Lufthansa's supervisory board has blocked management plans to issue a convertible bond to fund the purchase of more aircraft, Der Spiegel reported.
The plans would have seen Germany's biggest airline issue a convertible bond of about half a billion euros, the magazine said, adding subscribers could have chosen after three years whether to get back their investment in cash plus interest or in Lufthansa stock.
Lufthansa -- which will present its new return on capital key performance indicator (KPI) and new dividend policy on December 11 -- declined to comment on the report, adding supervisory board meetings were confidential.
Lufthansa's board approved plans on Wednesday to expand its budget flight operations against the backdrop of deteriorating relations with its pilots.
(Reuters)
December 7, 2014
Lufthansa's supervisory board has blocked management plans to issue a convertible bond to fund the purchase of more aircraft, Der Spiegel reported.
The plans would have seen Germany's biggest airline issue a convertible bond of about half a billion euros, the magazine said, adding subscribers could have chosen after three years whether to get back their investment in cash plus interest or in Lufthansa stock.
Lufthansa -- which will present its new return on capital key performance indicator (KPI) and new dividend policy on December 11 -- declined to comment on the report, adding supervisory board meetings were confidential.
Lufthansa's board approved plans on Wednesday to expand its budget flight operations against the backdrop of deteriorating relations with its pilots.
(Reuters)