Thread Lufthansa - Austrian

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LUFTHANSA: OPA SU AUSTRIAN AIRLINES, SUPERATA SOGLIA 85%

(ANSA) - ROMA, 12 MAG - Lufthansa ha gia' raggiunto oltre l'85% del capitale azionario di Austrian Airlines (da cui e' esclusa la quota detenuta da quest'ultima), su cui aveva lanciato una offerta pubblica di acquisto. Il risultato definitivo dell'offerta si conoscera' giovedi' prossimo e per completare l'acquisizione occorrera' l'approvazione della Commissione Europea. Lo rende noto un comunicato del vettore austriaco. L'ammontare, precisa il comunicato, include il 41,56% di azioni attualmente detenuto da Oiag (l'agenzia della repubblica austriaca di investimento e privatizzazione). ''Avendo raggiunto la soglia del 75%, abbiamo rispettato una condizione essenziale prevista dall'accordo di acquisizione - ha dichiarato Peter Malanik, membro del consiglio d'amministrazione di Austrian Airlines - In questo modo siamo riusciti a compiere un altro importante passo nel processo di privatizzazione. Siamo fiduciosi di poter raggiungere la conclusione di questa operazione entro l'estate''. ''Vogliamo esprimere il nostro ringraziamento agli azionisti per aver reso possibile questo risultato - ha aggiunto Andreas Bierwirth, altro componente del cda - Il loro contributo e' fondamentale sia per garantire ad Austrian Airlines un futuro sicuro sia per tutelare la sede della compagnia. In questa occasione vogliamo ringraziare i nostri azionisti per la fiducia accordataci in questi anni'' ha concluso. Il gruppo Austrian Airlines offre una rete di collegamenti costituita da 130 destinazioni in 66 paesi del mondo fra cui Estremo Oriente (Bangkok, Delhi, Pechino e Tokyo), Nord America (New York, Toronto e Washington) oltre a tutta l'Europa e in particolare dell'Est dove opera come vettore di riferimento. Con circa un centinaio di aerei dell'eta' media di 8,6 anni, Austrian Airlines vanta una delle flotte piu' giovani e moderne d'Europa. Dall'Italia Austrian Airlines opera 111 collegamenti settimanali da 9 aeroporti (Bologna, Catania, Firenze, Milano Linate, Milano Malpensa, Napoli, Roma, Venezia e Verona) verso l'hub di Vienna. (ANSA). DR
 
Full probe for Lufthansa-Austrian deal
By Nikki Tait in Brussels and Gerrit Wiesmann in Frankfurt
Published: July 1 2009 20:38 | Last updated: July 1 2009 20:38


European competition regulators will conduct a full, in-depth inquiry into the proposed acquisition of Austrian Airlines by Germany’s Lufthansa, the European Commission announced on Wednesday night.

Such a probe could last for up to three months, although the commission could also reach a decision more quickly if issues are resolved.

The decision to conduct a full probe follows days of speculation over whether the deal would be approved, probably subject to conditions, or whether competition officials would ask for more time to review it. There are understood to have been intense talks between Brussels and the companies involved, as well as the Austrian government which controls Austrian Airlines.

On Wednesday night, the commission said that its initial investigation had indicated that the transaction could have reduced choice for passengers and probably pushed up fares on certain routes. It stressed that instigating a full probe did not prejudge the final result.

Commenting on the decision, Neelie Kroes, EU competition commissioner said: “It is essential that airline consolidation does not deprive consumers of a choice of airlines, competitive prices and the other benefits of liberalisation of air transport in the EU.”

She added that she hoped “in a spirit of mutual cooperation that the commission would be able to work closely with Lufthansa to “find timely soluations to these concerns”.

Lufthansa in November agreed to buy the Austrian government’s 41.5 per cent stake in the loss-making carrier for a mere €366,00 although this came with the pledge to pay up to an additional €163m if Austrian performed well over the next three years.

In addition, it paid €215m to buy out other shareholders.

In return, the Austrian government pledged to give the airline a €500m restructuring grant, a move much-criticised by Lufthansa’s main rival Air France-KLM. EU state aid experts are looking into the matter and will give their verdict in the coming weeks.

Lufthansa chief executive Wolfgang Mayrhuber has said that the deal would take the carrier a step closer to being an “integrated European airline”. It has recently received approval to acquire Brussels Airlines, subject to conditions, and has agreed to buy the UK’s BMI.

Mr Mayrhuber has also pledged to maintain the Austrian brand and its Vienna hub.

The commission’s initial concerns focussed on the Vienna to Frankfurt, Munich, Stuggart, Cologne, Zurich, Geneva and Brussels routes.

On Wednesday night, it said that Lufthansa had proposed remedies, but that – while these did significantly reduce the outstanding problems - they were not sufficient to allow the merger to be cleared at this stage.

The commission also confirmed that the state aid issues were still under review in a separate investigation.

Copyright The Financial Times Limited 2009
 
EC extends Austrian/Lufthansa investigation; focus is on concessions

Thursday July 2, 20
The European Commission extended the deadline of its investigation into the takeover of Austrian Airlines Group by Lufthansa by at least 14 days, or up to a maximum 90 days although a decision is expected to come in about two weeks.

Sources close to both AAG and the Austrian government told ATWOnline that a 20% reduction in Austrian's capacity may be a condition for approval and would be acceptable. The airline is considered to be too large for its home market, with or without Lufthansa.

"If we have to deliver the bad news regarding a shrinking network, fleet and employees, it is [more comfortable for us] if it is announced by the EU and then we can blame the EU. It reveals the cowardice of the politicians and, especially, the unions within AAG that never allowed a staff reduction, which had been necessary," an AAG management source told this website.

Other conditions likely will involve the surrender of slots on the carrier's most profitable routes, such as Vienna-Geneva, VIE-Frankfurt and flights to some Eastern European destinations. Its charter business, operated largely by its Lauda Air subsidiary, also could be cut by half.

AAG employs more than 7,900. Some 2,600 already are on short-time work, and it is expected that up to 1,000 will be laid off if and when the carrier shrinks. By comparison, Air Berlin employs 7,800 and transports around three times as many passengers (30 million to 10 million).

Lufthansa's acquisition of AAG, and the €500 million ($704.3 million) in state aid that is part of the deal, require European antitrust approval.

by Kurt Hofmann
ATWOnline
 
Austrian announces 1,000 job cuts, still confident on Lufthansa takeover

Friday July 3, 2009

Austrian Airlines Group said yesterday that it will need to cut an additional €200 million ($281.6 million) in costs and will slash 1,000 jobs to help it achieve the savings target.
"It is no easy step," Executive Board member Andreas Bierwirth said. "We see the market dropping more than we expected. It is the biggest crisis in aviation and the crisis will be increasing." Talks with unions are underway to find a solution to reach the workforce reduction. "The company needs more [cost] structure improvement, [increased] productivity and we have to get to lower labor costs to reach a level like SN Brussels or Swiss," Bierwirth told this website during a conference call.
He added that the liquidity of the company is secured at least until the end of this year. Subsidiary Lauda Air is being evaluated to determine if it should continue being operated under its own brand.
Regarding the European Commission's decision to extend the deadline of its investigation into the proposed takeover of AAG by Lufthansa (ATWOnline, July 2), Executive Board member Peter Malanik said, "We have indications that [the extended investigation] will be shorter than 90 days. We have answered already more than 400 questions from the EU. We are getting very close [to closing the deal]." He added that AAG hopes the transaction can be completed by July 31.
"If we were not confident that the closing [of the takeover] is realistic, then we [would have] had to announce a much tougher scenario to stay independent" than the cuts revealed yesterday, Malanik added. AAG employs more than 7,900. Some 2,600 already are working on a reduced schedule.

by Kurt Hofmann (atwonline.com)
 
EC: Lufthansa's latest AAG takeover proposal 'worse'; approval by July 31 unlikely

Monday July 13, 2009

The European Commission said Friday that Lufthansa's latest offer regarding its planned takeover of Austrian Airlines Group contains insufficient concessions, making it unlikely the EC can grant antitrust clearance for the deal by the end of this month.
The Commission on July 1 extended the deadline of its investigation into the proposed merger by at least 14 days and up to a maximum of 90 days, but AAG had expressed confidence that approval could be given and the transaction closed by July 31 (ATWOnline, July 3). However, Jonathan Todd, a spokesperson for the EC on competition issues, told reporters in Brussels that LH had presented an offer "worse than what was offered before."
He added that it would be "impossible" for the EC to render its decision by July 31 unless LH came forward immediately with new "information," adding that a "miracle" would be needed to enable an expeditious antitrust ruling. "It's very difficult to understand why they are adopting this approach if they genuinely want a rapid decision from the Commission," he said.
An LH source told ATWOnline that the carrier would not be improving its offer, insisting that it had moved "eight meters toward the EU and the EU [now has] just to move one meter" in LH's direction.
AAG Executive Board member Peter Malanik told Austrian Broadcasting ORF that the company "is surprised about the news from Brussels" but remains confident that the deal will be completed. He conceded that finalizing the transaction by July 31 may not be possible.

by Kurt Hofmann (atwonline)
 
Austrian Airlines Group will need €1 billion ($1.39 billion) in new capital if its pending acquisition by Lufthansa falls through, Chairman Peter Michaelis told shareholders yesterday at a Vienna meeting. The company has spent two-thirds of the €200 million loan from the Austrian government and is carrying more than €1 billion in debt, Reuters reported. Michaelis added that Lufthansa's board was meeting yesterday to consider the concessions requested by the European Commission. "If all parties concerned really want it, the transaction can be closed" before LH's July 31 deadline, he said. AAG Executive Board Member Peter Malanik was quoted as saying that if the merger does not occur, "the company must be downsized, loss-making routes must be cut and aircraft and staff must be cut. A strategic partner will be needed for the 'plan B' as well." Meanwhile, the EC wants more details from LH regarding competition on flights from Vienna to Frankfurt, Munich, Stuttgart, Cologne, Zurich, Geneva and Brussels.

ATWOnline
 
Lufthansa, Commissione UE chiede nuovi chiarimenti per Austrian Airlines


(Teleborsa) - Roma, 17 lug - Bruxelles ha chiesto a Lufthansa nuovi chiarimenti sull'offerta avanzata per Austrian Airlines. A riferirlo il portavoce della commissaria Ue alla concorrenza, Nelie Kroes.
Ancora nulla di nuovo, quindi, per quel che riguarda la possibile approvazione da parte della Commissione UE all'operazione.
In attesa della decisione della Commmisssione, il titolo Lufthansa, sul paniere del Dax 30 segna un rialzo dello 0,49% a quota 9,3 euro per azione.
 
EC confirms new Lufthansa offer on AAG takeover

Monday July 20, 2009

Lufthansa last week shared with the European Commission a revised offer for its proposed takeover of Austrian Airlines Group, but it was unclear whether the German carrier had made enough concessions to satisfy EU antitrust regulators.
The EC said in a statement that it "can confirm that it has received a new offer from Lufthansa in the context of its ongoing in-depth investigation of Lufthansa's proposed takeover of Austrian Airlines. The Commission will study the offer carefully but cannot make any further comment at this stage." The Commission said earlier this month that LH had proposed a deal that contained insufficient concessions, making it unlikely it could grant antitrust clearance for the deal by the end of this month.
But Austrian Finance Minister Josef Proell last week told Austrian Radio ORF that the newest LH offer "will bring a lot movement" to the LH/AAG/EC talks on the proposed takeover. While details were not released, sources close to LH told this website that the carrier could be open to reducing frequencies on one of its most important routes, Frankfurt-Vienna, if it will help facilitate the merger.

by Kurt Hofmann
ATWOnline
 
Lufthansa Seeks Austrian Air Deal Extension, Sees Antitrust OK

By Jan Hromadko
Of DOW JONES NEWSWIRES

FRANKFURT (Dow Jones)--German flag airline Deutsche Lufthansa AG (LHA.XE) said Tuesday it has requested an extension of its takeover offer for Austrian Airlines AG (AUA.VI), saying European Union antitrust approval for the deal is in the offing but unlikely to be granted by the original deadline of July 31.

It has asked the Austrian takeover commission to extend its offer for Austrian Airlines by a month to Aug. 31.

The company said an agreement with the European Commission over antitrust approval "is emerging", but added that "formal clearance" for the takeover as well as for a EUR500 million restructuring aid the Austrian government would pay to Austrian Airlines cannot occur in due time anymore.

In a separate statement, the European Commission Tuesday said Lufthansa has made a new antitrust offer to ensure that all competition concerns are met.

The E.U.'s top antitrust authority added it will now "market test" this proposal, asking competitors and other affected parties whether the offer is sufficient to remove competition bottlenecks.

The commission didn't detail the new offer from Lufthansa, but recent press reports have speculated the German airline is prepared top to give up six of its 10 take-off and landing slots between Vienna and Frankfurt to its competitors, including Austrian low-cost airline Niki and Slovenia's Adria Airways.

At 0814 GMT, Lufthansa shares were up EUR0.08 or 0.8% at EUR9.61, in line with a broadly firmer market.

-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503; jan.hromadko@dowjones.com
 
LH reaches accord with EC on Austrian deal, still targeting 2009 operating profit

Friday July 31, 2009

Lufthansa yesterday said it reached "material agreement" with EU regulators on its proposed takeover of Austrian Airlines Group, but airline officials declined to reveal details as they announced LH's 88.4% year-over-year second-quarter profit drop to €40 million ($56.5 million).
Speaking on a conference call discussing the results, preliminary details of which were released Wednesday, CFO Stephan Gemkow said the company had reached an accord with the European Commission on concessions that would allow the EC to grant antitrust clearance for LH's purchase of AAG, according to Bloomberg News.
At a separate news conference, EC VP-Transport Antonio Tajani said he is "optimistic" the LH-AAG deal will be approved. He added that the EU would allow state financial aid to facilitate the takeover. LH's offer is subject to EC approval of both the takeover and the granting of €500 million in restructuring aid by the Austrian government.
The purchase is part of LH's strategy to become a "system of independent airlines" with multiple European power bases, a long-term ambition it maintains despite current financial difficulty. The company this week reported a first-half operating loss of €198 million, reversed from a €564 million profit last year, as revenue declined 15.2% to €10.23 billion.
For the second quarter, LH's passenger airline group reported EBITDA of €382 million, down 31.3% from €556 million in the year-ago period, as revenue decreased 20% to €3.86 billion. Traffic declined 5.4% to 38.08 billion RPKs on a 1.6% dip in capacity to 49.94 billion ASKs, producing a load factor of 76.2%, down 3.2 points.
LH blamed "economy-related weaker demand and the altered travel behavior of the passengers," noting that business passengers "have increasingly been buying tickets in the cheaper booking classes, leading to a significant slide in average yields."
Chairman and CEO Wolfgang Mayrhuber said, "The figures speak for themselves. Crises ruthlessly reveal the weak points and we shall act." To that end, LH reaffirmed the initiation of a program to achieve €1 billion in cost savings through the end of 2011. The initiative, dubbed "Climb 2011" and focused on the passenger airline segment, will "be elaborated and implemented during the upcoming weeks," Gemkow said
He added that LH anticipates "a significant decline in revenue for the full year" but that it "continued to target an operating profit" for 2009.

by Aaron Karp
ATWOnline
 
Non perdono tempo, ho ricevuto:


Gentile XY

Avrà sicuramente sentito che la Commissione Europea ha annunciato venerdì che ha raggiunto un accordo con Lufthansa sulle condizioni per l'approvazione della fusione con l'Austrian Airlines Group. Questo è sicuramente un importantissimo passo verso una conclusione positiva dell'accordo di partnership commerciale. Nello stesso tempo, abbiamo ricevuto chiari segnali che una decisione positiva riguardo all'indagine sugli aiuti di Stato sta per essere presa. Ci aspettiamo che l'accordo di acquisizione venga formalmente completato in agosto o entro la fine di settembre 2009 al più tardi.

Cosa significano questi cambiamenti in pratica?

Per Lei:

Austrian Airlines diventa parte della compagnia aerea più grande d'Europa. Questo significa che Lei avrà una più ampia selezione di voli in coincidenza, perfettamente coordinati tra loro, per poter volare verso oltre 240 destinazioni nel mondo. Siamo ansiosi di poter organizzare delle interessanti offerte per Lei in collaborazione con Lufthansa.

Per noi:

Avremo accesso al network di vendita e di operazioni di volo internazionali di Lufthansa Group e, inoltre, una serie di altri benefici, dai vantaggi sugli acquisti fino allo sviluppo congiunto dei sistemi e alla manutenzione condivisa degli aerei. Questo creerà la base per la nostra stabile crescita futura.

Ma la cosa più importante è ciò che non è assolutamente cambiato: Austrian è sempre Austrian. Adesso e in futuro, il nostro personale cortese e premuroso porterà un sorriso sul Suo volto con la naturale cortesia e il tipico fascino dell'Austria.

We fly for your smile!
 
Blitz ha detto:
Lo spero, il personale OS che ho incontrato tornando dalla Cina mi pareva preoccupato in tal senso...
Ho trovato con OS un ottimo servizio e cibo buonissimo, spero che non si livellino al cibo di LH... :morto:
Clicca per espandere...
LH sta lavorando a migliorare un po', a FRA sono finito presso un banchetto che distribuiva assaggi e chiedeva la compilazione di questionari al proposito.

Se quei panini passano la fase sperimentale ci sarà un bel passo avanti, del resto Swiss offre già di meglio.
 
Lascia stare i panini, il problema era la milanese con ratatuille che sembrava pollo lesso con finta impanatura - vero cellophane :morto:
 
quasi OT

ma se tutti,invece di fare VOLI pindarici ed inventare schifezze improbabili

servissero un panino con pane..solo formaggio..solo prosciutto anche della baviera
DECENTI,senza salse o erbette...

Non saremmo tutti piu`contenti e LEGGERI quando scendiamo dalle scalette??
 
FlyIce ha detto:
LH sta lavorando a migliorare un po', a FRA sono finito presso un banchetto che distribuiva assaggi e chiedeva la compilazione di questionari al proposito.
Clicca per espandere...

L'idea è davvero carina ed accattivante, non avevo mai sentito prima di assaggi sperimentali di questo tipo organizzati preso gli aeroporti.
 
Austrian treads in red as it waits for Lufthansa rescue

Wednesday August 5, 2009

Austrian Airlines Group returned to the red in the second quarter, reporting a €78.5 million ($112.3 million) loss compared to an €11.7 million profit in the year-ago period, but expects to benefit from approximately €80 million in annual synergies as a Lufthansa subsidiary, AAG Executive Board members Andreas Bierwirth and Peter Malanik told ATWOnline yesterday in Vienna.
The pair confirmed that AAG expects the acquisition to be concluded successfully this month, or in September at the latest, and that the news had a positive impact both within the company and on passenger bookings. That will be a welcome boost following months of concern about the future of the tie-up, which Bierwirth said contributed to a sag in market confidence. "Our image has suffered," he said. "But now we have the chance to take a positive direction and continue further."
Second-quarter operating revenue fell 24.6% year-over-year to €514.6 million and expenses were down 9.2% to €599.2 million. Operating result reversed to an €84.6 million loss from a €22.9 million profit last year, when Austrian benefited from the country's co-hosting of the quadrennial European soccer championship. AAG also took a €74.3 million charge during the 2009 second quarter related to noncash impairment of aircraft.
Traffic fell 15.8% to 4.2 billion RPKs against a 12.9% drop in capacity to 5.77 billion ASKs. Load factor sank 2.5 points to 72.8% and unit revenue was down 14.8% to 11.5 euro cents.
Austrian has implemented cost-cutting projects designed to save up to €300 million, "and if it is necessary we will adjust our cost-cutting measures further," Bierwirth said. Malanik added that OS will look to improve operating costs by phasing out 50-seat aircraft operated by its Tyrolean Airlines subsidiary for 737NGs operated by Lauda Air on routes to airports such as Rome Fiumicino and Barcelona. Its CRJs will leave the fleet by next summer, leaving 14 Dash 8s. It intends to cut some 1,000 positions by the middle of next year "on the basis of mutually agreed solutions, outplacements and by not filling vacancies," it said.
Regarding the recent 35% drop in business class passengers, Bierwirth said that "on long and medium-haul segments, there is a future for business class. On flights up to 90 min., it is getting difficult and we have to find a solution." He said OS ideally would like to maintain its business class service on shorter flights.
The company also is evaluating divesting its 22% stake in Ukraine International Airlines. Malanik said the share helped AAG generate a market presence in Ukraine, but that airline is struggling amid the market downturn. "We will decide in several weeks. . .whether to keep it or sell it. This depends on the market situation."
AAG's six-month loss of €166.6 million compared to a €48.7 million loss in the year-ago semester. Operating loss widened to €161.6 million from €29.9 million on a 21% fall in operating revenue to €969.3 million.

by Kurt Hofmann and Brian Straus
ATWOnline
 
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