SAirGroup confirms interest in LTU stake

Article Abstract:

SAirGroup AG, which owns Swissair, has announced that it plans to buy Westdeutsche Landesbank Girozentrale's (WestLB's) 35% stake in Lufttransportunternehmen GmbH & Co. (LTU), a Duesseldorf, Germany, tour operator. Despite WestLB's decline to comment on the acquisition, SAirGroup confirmed that it is currently negotiating with WestLB. Reports, however, say that SAirGroup already signed a letter of intent to buyout LTU although SAirGroup denies the reports. WestLB has been requested by the German cartel to divest its stakes in LTU to be more competitive.

Comment:

SAirGroup AG plans to buy firm's 35% stake in Lufttransportunternehmen GmbH & Co

Asset sales & divestitures, Acquisitions & mergers, Germany, Tourist Travel, Tourism, Westdeutsche Landesbank Girozentrale, Article, Lufttransportunternehmen GmbH and Co.

---

Cathay returned to profit in 1st half

Article Abstract:

Cathay Pacific Airways posted a return to profitability in the first-half of 1999. The Hong Kong-based carrier benefited from the sale of part of its Equant NV share. Cathay posted HK$108 million (12.9 million euros) in net income during the period. During the same period in 1998, Cathay reported a net loss of HK$175 million. The carrier saw a profit of HK$322 million from the sale of its Equant share.

Hong Kong, Cathay Pacific Airways Ltd.

---

SAirGroup says net fell 32% in half

Article Abstract:

SAirGroup posted a fall of 32% in its earnings for the first-half of 1999. The carrier posted 87 million Swiss francs (54.4 million euros) in net profits during the period. During the same period in 1998, SAirGroup reported 127 million francs. SAirGroup, the parent firm of Swissair, also provided a negative forecasts for the entire 1999 year. Air fares were kept down due to competition.

Similar abstracts:

• Abstracts: Two groups show interest in RomTelecom stake. Greece's OTE gets nod for RomTelecom stake. SBC pulls RomTelecom bid, threatening privatization effort
• Abstracts: BSkyB confirms talks with Manchester United. Coke unit's loss widens in 1st half
• Abstracts: Korea selects advisers for power sale. Qatar power project style. Korea government sells 5% in Kepco
• Abstracts: NTT Mobile's net jumps 70% in year. Tele Danmark 1st-half pretax profit seen lackluster. Telecom of New Zealand shares fall as net meets diminished expectations
• Abstracts: Thomson shares dive after loss report. Arriva's pretax profit beats expectations. Bovis float moved up as P&O net swells

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.