Lufthansa to buy SAS?
Stumbled over this agency statement on www.nzz.ch:
Lufthansa is acquiring SAS, trade of SAS stocks in Stockholm has been suspended temporarily. SAS will respond officially after its stock has surged by 10%... "Finanzen: 12. September 2008, 15:12:05 Handel mit SAS-Aktie nach Gerücht über Kauf durch Lufthansa gestoppt STOCKHOLM (AWP International) - Die Aktien der skandinavischen Fluggesellschaft SAS sind am Freitag nach Gerüchten über eine bevorstehende Übernahme durch die Deutsche Lufthansa vom Handel ausgesetzt worden. SAS kündigte eine Stellungnahme an, nachdem die Aktien des Unternehmens im Gefolge von Medienberichten um zehn Prozent in die Höhe geklettert waren./tb/DP/jb" |
More "details" here:
http://de.reuters.com/article/topNew...24807420080912 Seems the LH M&A team is very busy at the moment trying to find another bride. |
SAS published the following:
http://se.yhp.waymaker.net/sasgroup/....asp?id=172392 Statement regarding speculations on the future structure of the SAS Group Regarding today's speculations in the media SAS confirms that it is in the process of evaluating various structural possibilities for the Group. Within this process SAS is conducting talks about a possible structural solution. It must be emphasized that no decision has been taken. This is IMHO not really a counterstatement leaving all opportunities wide open... |
Originally Posted by DownUnderFlyer
(Post 10357376)
More "details" here:
http://de.reuters.com/article/topNew...24807420080912 Seems the LH M&A team is very busy at the moment trying to find another bride. |
What I read and hear in the German media is different. So far, LH hasn't confirmed anything.
I think it's time to start a thread about European airlines that LH doesn't want to buy :D |
Originally Posted by supermasterphil
(Post 10358994)
I think it's time to start a thread about European airlines that LH doesn't want to buy :D
http://www.flyertalk.com/forum/showp...&postcount=936 |
Lufthansa sees bmi as weapon in greater battle with BA (source: The Times)
Lufthansa is looking at forming an alliance involving bmi and Virgin Atlantic to take on the proposed powerhouse combination of British Airways and American Airlines.
It emerged yesterday that Lufthansa was in talks to buy SAS, the struggling Scandinavian airline, which owns 20 per cent of bmi. Lufthansa already owns 30 per cent of bmi, minus one share, and has an option to take full control of the airline this autumn. Shares in SAS were suspended yesterday after climbing 11.2 per cent following reports that it was in talks with Lufthansa. (...) Speculation of consolidation among under-pressure European airlines came as Sir Richard Branson kicked off a Pounds 3million campaign against an alliance between BA and AA. A spokesman for Virgin Atlantic said that the airline was not against consolidation per se and it understood it could become engaged in it in the months to come. "But it is the scale of this alliance between BA and AA that matters," the Virgin spokesman said. "Even if there were an alliance between Lufthansa, bmi and Virgin, we would still only have 17.5 per cent of slots at Heathrow compared with 47 per cent controlled by BA, AA and Iberia." http://business.timesonline.co.uk/to...cle4744715.ece |
Wells said.
However, LH requires only 17.5 percent of the slots in LHR. They certainly have no intention to keep all of the regional flights in the UK BA is required to offer because they only have one hub. I would assume (just by a judgement of the thumb) that the London region covers 80% of the profitable market in the UK. What I can imagine LH to do, is using the London slots for profitable long and medium range flights, forget about quite a bit of the regional network but direct the customers from the UK regions into FRA or DUS for connections. LHR-DUB will certainly survive but I am not sure about the rest. |
Originally Posted by Flying Lawyer
(Post 10365955)
Wells said.
However, LH requires only 17.5 percent of the slots in LHR. They certainly have no intention to keep all of the regional flights in the UK BA is required to offer because they only have one hub. I would assume (just by a judgement of the thumb) that the London region covers 80% of the profitable market in the UK. What I can imagine LH to do, is using the London slots for profitable long and medium range flights, forget about quite a bit of the regional network but direct the customers from the UK regions into FRA or DUS for connections. LHR-DUB will certainly survive but I am not sure about the rest. |
Interestingly, to add a new twist to this story, there is an article in the Sunday Times today which says that LH may no longer be interested in buying BD:
"Lufthansa has an option to take complete control of BMI later this year or early next. However, it is understood it wants to sell its stake for around £200m and that talks with Etihad were held in the summer." Strange given that The Times said something completely different the previous day! |
Originally Posted by Flying Lawyer
(Post 10365955)
Wells said.
However, LH requires only 17.5 percent of the slots in LHR. They certainly have no intention to keep all of the regional flights in the UK BA is required to offer because they only have one hub. I would assume (just by a judgement of the thumb) that the London region covers 80% of the profitable market in the UK. What I can imagine LH to do, is using the London slots for profitable long and medium range flights, forget about quite a bit of the regional network but direct the customers from the UK regions into FRA or DUS for connections. LHR-DUB will certainly survive but I am not sure about the rest. If BD failed to operate these services they would loose the slots. |
Originally Posted by railways
(Post 10366291)
Interestingly, to add a new twist to this story, there is an article in the Sunday Times today which says that LH may no longer be interested in buying BD:
"Lufthansa has an option to take complete control of BMI later this year or early next. However, it is understood it wants to sell its stake for around £200m and that talks with Etihad were held in the summer." Strange given that The Times said something completely different the previous day! |
Etihad sounds like a red herring to me.
|
Originally Posted by Traveloguy
(Post 10367527)
If BD failed to operate these services they would loose the slots.
|
Originally Posted by Rambuster
(Post 10367796)
Etihad sounds like a red herring to me.
|
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