Daimler announced (06-Dec-2012) it raised EUR1.66 billion from the sale of its 7.44% stake in EADS, selling 61.1 million shares at EUR27.23 each to KfW, private Dedalus investors and international investors by way of the accelerated book building (ABB). KfW acquired 2.76% of EADS shares in the ABB. Private Dedalus investors acquired 1.9% of the EADS shares as part of the transaction. The closing price was in the upper range of forecast estimates and the placement was several times oversubscribed. The stake in EADS held by Daimler after the transaction is approximately 7.5%. Goldman Sachs and Morgan Stanley acted as joint bookrunners for the placement of EADS shares through the ABB. [more - original PR]
Daimler successfully places 7.5% of EADS shares
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This report presents high level data on the numbers of airport pairs between each Western European country and the US and how these number have changed. EU-US liberalisation in 2008 has stimulated growth in the number of direct connections, although the global economic downturn impeded this for a while. However, the additional routes have not been spread evenly across Western European countries.
Since 2010, additional route numbers from Western Europe to the US have been greatest from the largest markets – the UK and the US – and from the smaller countries, particularly Ireland, Iceland and Norway. Countries in between, including France, Italy, Spain and the Netherlands, have hardly added any new US routes at all.
Brexit follow-up Part 3: Gulf airlines, Turkish lose UK ally in M/E talks as protectionism spreads
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The EU now has mandates to negotiate open skies with states, including the UAE, Qatar, Turkey and the ASEAN bloc. The UAE and Qatar, home to the three Gulf network airlines, are expected to produce the most contentious negotiations. France and Germany will surely takes cues from Air France and Lufthansa to impede Gulf growth. In this light there are questions about whether the talks are genuinely motivated, or merely designed to draw out the discussion and thereby not produce any additional traffic rights while under negotiation.
What Air France and Lufthansa need is a real, lasting solution, rather than persevering Canute-like with stonewalling. Although a partnership seems logical, they may have waited too long. The Gulf airlines have found that they can succeed on their own.