Route network update for Lufthansa
EU to ban Belarusian carriers after forced hijacking
24.05.2021 – 21:56 UTC
Following a meeting on May 24, 2021, the European Council decided to ban all Belarusian airlines from landing in the European Union and passing through its airspace.
The Council conclusions also called on all EU airlines to avoid flying over Belarus.
The European Council is a body made up of the heads of state and government of the 27 EU Member States. However, it has no direct legislative power and all of its conclusions must be adopted by other bodies, including the European Commission and the Council of the European Union. As such, the ban is not immediately effective.
Belavia airline (B2, Minsk National) is the only Belarusian airline to operate regular flights to the European Union. According to ch-aviation schedules module, the airline currently connects Minsk with 19 destinations in the block. Freight specialists Rada Airlines, Rubystar Airways, BySky and Genex all hold EASA Third Country Operator Certificates, allowing them to operate charter flights.
The conclusions were adopted in the wake of …
Largest private shareholder halves its stake in Lufthansa
24.05.2021 – 01:05 UTC
KB Holding GmbH, the Thiele family’s investment vehicle, said it has sold more than half of its shares in Lufthansa, reducing its stake in the carrier from 10% to 4.5%.
In a statement to Reuters, the bookrunner of the transaction said KB Holding had sold 33 million of its 60 million shares at a price of 9.80 euros ($ 12.0) per share, a discount of around 10% compared to the current negotiation. the price. The sale brought in 323.4 million euros ($ 395.4 million) for the stake.
The sale follows the death of family patriarch Heinz Hermann Thiele, who died at the age of 79 in February 2021.
Thiele invested in Lufthansa during the COVID-19 pandemic, buying stakes during a dramatic collapse in stock prices in the early days of the crisis. He quickly became the airline’s largest single shareholder with a stake of almost 15% at a time. At first, he strongly opposed a state bailout accompanied by the German government’s stake in Lufthansa, but ultimately backed the plan. Thiele then gradually reduced his stake. As…
Ryanair wins as EU court cancels KLM and TAP state aid
19.05.2021 – 22:22 UTC
The General Court of the European Union upheld a challenge by Ryanair (FR, Dublin Int’l) against billions of euros in state aid granted to KLM Royal Dutch Airlines (KL, Amsterdam Schiphol) and TAP Air Portugal ( TP, Lisbon), canceling European Commission decisions which allowed the Netherlands to give 3.4 billion euros (4.15 billion USD) to the Dutch wing of Air France-KLM and the Portuguese subsidy of 1.2 billion euros (1.46 billion USD) to TAP.
The Luxembourg court ruled that the regulators had not justified the huge injections of liquidity. In the case of KLM, he stressed that the French government had already handed over to its sister company Air France (AF, Paris CDG) 7 billion euros (8.55 billion dollars) and ruled inadmissible the argument of the commission that this would not also benefit the Dutch carrier.
As for TAP, the court agreed with Ryanair that the commission had not properly justified its decision to give the green light to the aid. He argued that “the commission failed to substantiate the impugned decision up to the required legal standard and that this insufficiency of …
Editorial comment: Added a TAP comment. – 20.05.2021 – 06:23 UTC