GO
Loading...

Enter multiple symbols separated by commas

Lufthansa Sees EU Mergers if U.S. Talks Fail: FT

Lufthansa Chief Executive Wolfgang Mayrhuber sees European airline consolidation accelerating should talks to liberalize the market between the United States and the European Union fail, he told the Financial Times Deutschland.

But Lufthansa, which bought Swiss International Air Lines two years ago, was not under pressure to buy another airline in the foreseeable future, he said in an interview with the paper published on Monday.

If the U.S. government continued to refuse to allow foreign airlines to own more than 25 percent of U.S. carriers, this would "only hinder transatlantic joint ventures and increase the probability for European consolidation," Mayrhuber said.

The U.S. and the EU have worked for years on a deal to open the transatlantic aviation market to more competition and to replace the national-level bilateral agreements between Washington and some EU nations.

But a tentative deal sealed in November 2005 has remained in limbo after Washington withdrew a proposal to ease restrictions on foreign investment in U.S. airlines because of opposition in Congress.

European Union Transport Commissioner Jacques Barrot said on Thursday he would outline to members of Congress the potential consequences of blocking the deal when he travels to Washington in early February for talks on the stalled "Open Skies" aviation pact.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.