The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Stocks in Asia slipped in Tuesday afternoon trade, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
SEOUL — Europe's airline industry is ready for consolidation, and Lufthansa expects to be part of the action, the German airline's CEO told CNBC's Chery Kang on Sunday.
"There is a need and room for more consolidation in Europe. Probably looking at North America somewhat shows how the industry could develop," Carsten Spohr said during the International Air Transport Association (IATA) AGM in Seoul.
Lufthansa has been an active participant in the mergers and acquisitions (M&A) space, with Spohr pointing to previous activity with Swiss Air, Austrian Airlines, and Brussels Airlines.
"We have been active on this for many years," he said. "If there are opportunities, we surely will be ready."
The carrier currently has a bid in for Thomas Cook's Condor unit, which Lufthansa previously sold its shareholding to Thomas Cook between 2000 and 2007.
At this year's IATA AGM, industry players have been facing a slowdown in profits on the back of higher costs and global trade wars. Lufthansa is expecting single-digit earnings growth for the year, saying it is optimistic, despite posting a pre-tax loss for the first quarter of 336 million euros ($376 million).
"We had a disappointing (first) quarter in Europe, mostly dominated by overcapacity. But with strong booking outlook for the summer, we maintain optimism for the rest of the year."
Meanwhile the carrier has switched its focus to profitability from capacity growth when it comes to its low cost carrier, Eurowings, which Spohr said had been the growth driver for the group.
"We made sure we achieved the market position in important markets, and we are now going for profitability which has been somewhat neglected for the past years while we made sure we achieved strategic position."