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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Airport pairs: Western Europe-US shows the value of open skies as routes and new entry proliferate
For Western Europe there is no bigger long haul market than North America. In terms of the number of airport pairs between the countries of Western Europe and long haul destination countries, connectivity to the United States dominates. There are more direct routes between Western Europe and the US than there are between Western Europe and the whole of Asia Pacific.
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.
SunExpress: "Lufthansa's biggest strategic project"
The Turkish leisure airline SunExpress and its German subsidiary SunExpress Germany have historically had a fairly low profile, certainly among European air travellers. Nevertheless, their combined total of 7.9 million passengers puts SunExpress in the top 20 European airline groups in 2016, ahead of Brussels Airlines.
Jointly owned by Turkish Airlines and Lufthansa, SunExpress and its German counterpart brought about a consolidated result that fell into loss in 2016 as passenger numbers and revenue both declined. When the observer scratches beneath the surface of the headline figures, a picture of significant strategic change at SunExpress Germany starts to emerge.
The larger Turkish SunExpress has maintained its focus on Turkey-Germany routes, whereas SunExpress Germany has abandoned this country pair. It has instead developed leisure routes from Germany to elsewhere in Europe and in North Africa, in spite of not having an obvious competitive advantage in those markets. Within these new market areas, SunExpress Germany has undergone substantial changes in its route portfolio. Lufthansa wetleases capacity from SunExpress Germany for its Eurowings low cost operation and this may help to make some sense of these outwardly random network changes.