Planning

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Relief for Lufthansa after top shareholder backs rescue deal

first_imgSpohr will address the online meeting set to begin at 1000 GMT, urging investors to back the plan he hammered out over weeks of talks with ministers and the European Commission.The nine billion euro (US$10 billion) plan includes the state claiming a 20 percent stake.Thiele, who made his fortune in the rail and auto industries and owns 15.5 percent of Lufthansa’s stock, had repeatedly voiced scepticism about the deal – to the dismay of Lufthansa management, employees and unions.But he told the Frankfurt newspaper insolvency had to be avoided even if he still had doubts about the bailout, in a nod to his concerns about the government climbing on board. Lufthansa’s top shareholder on Wednesday said he would back a nine billion euro government rescue package, removing the threat of a last-minute veto that could have plunged the German airline into bankruptcy.”I will vote for the agreement,” German billionaire Heinz Hermann Thiele told the Frankfurter Allgemeine Zeitung newspaper on the eve of an extraordinary general meeting where investors will decide on the fate of the coronavirus-hit giant.Chief executive Carsten Spohr has warned that “the future of the company” is at stake after the pandemic throttled Lufthansa’s usual flood of passengers to a trickle for several months this year. “It is in the interest of all Lufthansa employees that management can quickly begin talks about the necessary restructuring,” Thiele said.Even with the government aid, Lufthansa has said it may have to slash thousands of jobs as travel demand is expected to stay below pre-pandemic levels for years.But in another boost for the airline, it struck a deal with German flight attendants’ union UFO late Wednesday to cut 500 million euros in costs by 2023 while avoiding cabin crew layoffs.The savings would be achieved through measures including pay freezes, reduced flight hours, early retirement and unpaid leave, both sides said in a joint statement.The deal still needs to be approved by union members.But UFO spokesman Nicoley Baublies said it “brings urgently needed job security” for Lufthansa’s 22,000 flight attendants as the company weathers an unprecedented crisis.Lufthansa shares jumped more than 16 percent at 2300 GMT in after-hours trading as investors digested the latest developments.Veto powerLufthansa’s board warned shareholders ahead of Thursday’s vote that insolvency was “unavoidable” if the bailout was rejected.Given that shareholders representing just 38 percent of the capital have registered to participate, Thiele held the power to singlehandedly torpedo the deal.The 79-year-old’s motivations for building up his own stake in Lufthansa remain murky.”I will continue to exert influence on the development of Lufthansa,” he told the FAZ, declining to elaborate.Bracing for a worst-case scenario, Spohr on Sunday said Lufthansa was “prepared” to keep flight operations going even if the vote goes against the board.Before launching insolvency protection procedures, bosses would “use the time to talk over alternatives with the government,” he added.The powerful Verdi union welcomed Thiele’s green light.”This ends an existential threat for almost 140,000 employees globally and their families,” it said in a statement.”Other shareholders must now follow Thiele’s example and agree to the rescue package.”Heavy weatherLufthansa’s climb out of the coronavirus storm promises to be long and arduous as countries emerge from lockdown and air travel slowly resumes.By September, the group expects its timetable to remain 60 percent below levels seen before the pandemic.Further into the future, around 100 of Lufthansa’s present fleet of 763 aircraft will likely be surplus to requirements.Elsewhere in the group, Vienna granted subsidiary Austrian Airlines aid totaling 450 million euros, while Swiss and Edelweiss received loans totaling 1.2 billion euros from Bern.Talks continue with the Belgian government over Brussels Airlines, which plans to shed 1,000 jobs.Topics :last_img read more

Australia’s Victoria requires masks for Melbourne hit by COVID-19

first_imgPeople in Melbourne must now wear masks when leaving their homes as Victoria, Australia’s second most-populous state, marked two weeks of triple-digit increases in new coronavirus infections on Sunday.Melbournians not wearing face coverings will be fined A$200 ($140), said Victoria Premier Daniel Andrews.Victoria, which has forced nearly 5 million people into a partial six-week lockdown on July 9, reported 363 new cases of the coronavirus on Sunday, after 217 cases the previous day. “We’re going to be wearing masks in Victoria and potentially in other parts of the country for a very long time,” Andrews told a televised briefing.”There’s no vaccine to this wildly infectious virus,” he said. Masks are “a simple thing, but it’s about changing habits, it’s about becoming a simple part of your routine.”Australia has recorded about 11,800 cases of COVID-19, a fraction of what has been seen in other countries or even some US states, but an outbreak of community transmission in Victoria has been growing, prompting authorities to restrict social distancing.Three COVID-19 deaths were reported in Victoria on Sunday, bringing the total to 38 and raising Australia’s death toll to 121.New South Wales, the most populous state, has seen new cases in the low double digits in recent weeks and growing. Health officials are concerned about the transmission rate, which they say is higher than in Victoria.About 60 people in Sydney face a fine of $1,000 each after attending a party Saturday night and breaking the public health guidelines of no more than 20 visitors to a home, police said. Topics :last_img read more

Man Utd, Liverpool, Chelsea and Arsenal would all ‘love’ to sign Jadon Sancho, says Owen Hargreaves

first_img Metro Sport ReporterSunday 31 May 2020 7:48 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2.1kShares Comment Sancho scored a hat-trick for Borussia Dortmund on Sunday (Picture: Getty)‘He’s going to cost a lot but he’s worth it, I’d love to see him back in the Premier League.’Manchester United, Liverpool and Chelsea have all been heavily linked with moves for Sancho ahead of the summer transfer window.Last week, Red Devils and Wales legend Ryan Giggs named Sancho as one of the three best young players in world football.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityHe said: ‘I’ve seen Marcus Rashford coming through the ranks [at Manchester United], such a talented player.‘And you have Jadon Sancho at Dortmund, a young player who’s made the bold decision to leave Manchester City and go to another country at a young age. And he really has made a difference.‘His team-mate as well, Erling Haaland who’s scoring lots of goals.’Will Jadon Sancho leave Borussia Dortmund this summer?Yep!0%No chance0%Share your resultsShare your resultsTweet your resultsFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page.MORE: Why David Moyes rejected chance to sign Paul Pogba at Manchester UnitedMORE: Frank Lampard makes Chelsea transfer admission amid Jadon Sancho links Advertisement Man Utd, Liverpool, Chelsea and Arsenal would all ‘love’ to sign Jadon Sancho, says Owen Hargreaves Owen Hargreaves has urged Premier League’s biggest clubs to sign Jadon Sancho (Picture: BT Sport)Owen Hargreaves has hailed ‘remarkable’ Jadon Sancho and claimed Premier League rivals Manchester United, Liverpool, Chelsea and Arsenal would all ‘love’ to sign the Borussia Dortmund forward.Sancho, 20, scored a hat-trick on his first start since the Bundesliga resumed as Dortmund thrashed bottom-placed Paderborn 6-1 on Sunday.The England international’s three goals took his tally for the season to 17 and former Premier League star Hargreaves paid tribute to the youngster following the match.Asked which Premier League club Sancho could end up joining this summer, Hargreaves told BT Sport: ‘He makes every team better, that’s for sure.ADVERTISEMENT‘Everyone would love to have him. Man United, Man City, Liverpool, I think he’s that good that he gets in all of them.AdvertisementAdvertisement‘United, Chelsea and Arsenal would all love to have him. It depends on personnel and who could afford him?‘It will cost a lost but he’s a generational talent, truly remarkable with his goals and assists and he can play in different positions. Advertisementlast_img read more

Woman killed in front of her children and authorities while fleeing husband

first_imgThe Dawson County Sheriff’s department is reporting that a woman was gunned down in front of a fire station while fleeing from her husband.The incident occurred around 7:00 pm Monday in Dawson, Georgia.Jeff Johnson of the Dawson County Sheriff department, told the media that they received a call from the victim just before she pulled into a fire station with her husband in hot pursuit.The victim pulled into the station with her children ages 5 and 8 but did not have a chance to get out of the vehicle. Moments after they pulled into the stations, the husband approached the vehicle and shot the victim.Fire Chief Danny Thompson reported that the incident happened so quickly that there was nothing any of the fire fighters could do.The victim was transported to an area hospital where she was pronounced dead. Her husband surrendered at the scene and was taken into custody.Neither child was injured during the incident and have since been placed in the state’s care.Authorities have not released the names of those involved.last_img read more

See what KL Rahul really thinks about being India’s WK in limited overs cricket!

first_imgImage Courtesy: PTI/AFPAdvertisement 12o086fNBA Finals | Brooklyn VsiurbhyWingsuit rodeo📽Sindre Ewzg8( IG: @_aubreyfisher @imraino ) 32iWould you ever consider trying this?😱wtg0sCan your students do this? 🌚aw9rrRoller skating! Powered by Firework Mahendra Singh Dhoni’s hiatus, Rishab Pant’s flimsy performance behind the stumps. While Team India was lacking in a good wicket keeper, the discovery of KL Rahul’s wicket keeping talent in the recent ODI series against Australia has been a boon for the squad. Praise from pundits and supporters and commemoration from the skipper Virat Kohli himself, the blasting opener is securing his role with the gloves. And what matters most, the player is enjoying his new duty.Advertisement Image Courtesy: PTI/AFPFollowing yesterday’s victory in the first match of the T20 series against New Zealand, KL Rahul was present in the post match interview, and the newborn keeper mentions its actually not his first major wicket keeping duty.Rahul said: “I am honestly loving it, in the international stage it might look that I am new to wicket-keeping, but I have done this role in the domestic cricket. I have done it for my IPL franchise, I enjoy staying behind the stumps.”Advertisement Playing for Karnataka cricket team, Rahul has previously donned the gloves for behind the stump role, and also revealed the benefits of being a keeper in a match.The 27 year old continued: “It gives me a great idea of how the pitch is playing then I can pass on the message to the skipper and bowlers. Wicket-keeping requires you to be pro-active. I am enjoying the responsibility.”Advertisement Since his debut in white ball cricket back in 2016, Rahul was having sporadic call ups for international series. However, with stunning performance on the 22 yards in recent matches has him secured in a versatile role in the batting order, as seen against the Aussies last week, coming in both as an opener and also down in the middle order.“I felt like I was not getting enough game time, I was a part of the team for a long time, but I used to get just a couple of games. As a batsman, you need some time in the middle. I got runs in domestic cricket and that has worked really well for me.”Previously a member of Indian Premier League sides Royal Challengers Bangalore and Sunrisers Hyderabad, Rahul joined Kings XI Punjab in 2018, and his performance in IPL has been a major factor for strengthening his position in the international squad.Tomorrow is India’s second T20 match of the New Zealand series at Eden ParkAlso read-What KL Rahul did with his MOTM cash prize will melt your hearts! Advertisementlast_img read more