lufthansa shareholder meeting overshadowed by germanwings crash
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

Lufthansa shareholder meeting overshadowed by Germanwings crash

Arab Today, arab today

Arab Today, arab today Lufthansa shareholder meeting overshadowed by Germanwings crash

Costs are Lufthansa's biggest headache at moment
Hamburg - AFP

German airline Lufthansa holds its annual shareholders' meeting in Hamburg on Wednesday in the shadow of the devastating Germanwings crash that killed 150 people just over a month ago.

French investigators believe that the co-pilot of the jet belonging to Lufthansa's low-cost subsidiary deliberately slammed it into the French Alps on March 24, killing everyone on board.

In the wake of the tragedy, Lufthansa cancelled its 60th anniversary celebrations and both the carrier and its chief executive, Carsten Spohr, have kept a low profile in recent weeks.

But Spohr, 48, is scheduled to address around 2,000 shareholders in a huge congress centre in the northern port city of Hamburg, where he will face tough questions about the company's strategy, financial results and the performance of its shares on the stock market, as well as the state of the investigation into the crash itself.

The media and public opinion in Germany have been generally lenient towards Lufthansa since it emerged that the disaster was likely a deliberate act by co-pilot Andreas Lubitz, who had been diagnosed as suicidal in the past.

Doctors had recently found no sign that he intended to hurt himself or others, but he was receiving treatment from neurologists and psychiatrists who had signed him off sick from work a number of times, including on the day of the crash.

Police found torn-up sick notes during a search of his apartment after the crash.

Instead, public debate has focused more on the possible softening of medical confidentiality rules and requiring at least two people to be in an airplane's cockpit at all times.

- Other problems -

Despite the deep shock and sadness that the crash caused in Germany, Lufthansa shareholders have other things on their minds, such as the airline's poor financial performance and management's decision to waive dividend payments.

Investors are also concerned about how management plans to tackle cut-throat competition in the sector, not only from the German group's European rivals, but also from carriers from the Gulf region and budget airlines.  

Costs are Lufthansa's biggest headache as it looks to rejuvenate its aircraft fleet and the current low level of interest rates in Europe force it to set aside more financial provisions to pay for the generous pensions of its staff.

Lufthansa has even managed to lose money from the decline in oil prices -- normally a boost to the sector -- as a result of losses on its financial hedging instruments.

In order to address such challenges, Spohr recently said the group needed to "break out of the old modes of thinking."

Spohr, a pilot by training, wants to position Lufthansa in the premier league on transatlantic routes and farm out most of the domestic and European routes to the group's low-cost subsidiaries.

But such plans are riling Lufthansa's pilots, who have staged no less than 12 industrial walkouts in the past year, some lasting for several days.

The shock of the Germanwings crash may have led to a temporary truce between unions and management, with Spohr lauding the group's pilots as the best in the world. But the ceasefire cannot last forever while the roots of the problem remain unresolved.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

lufthansa shareholder meeting overshadowed by germanwings crash lufthansa shareholder meeting overshadowed by germanwings crash

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

lufthansa shareholder meeting overshadowed by germanwings crash lufthansa shareholder meeting overshadowed by germanwings crash

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday