Economy of Germany

Lufthansa flies back into profit in Q1

German airline Lufthansa said on May 5 it flew back into the black in the first three months of the year, powered particularly by the good performance of its Swiss and Lufthansa Cargo subsidiaries.

Lufthansa said in a statement it booked a net profit of 425 million euros ($473 million) in the period from January to March, compared with a loss of 252 million euros a year earlier.

Train Drivers at Germany's Deutsche Bahn Begins Its Longest-Ever Strike

Drivers working at Deutsche Bahn, the German train operator, have embarked on a new strike which is set to continue a week.

Employees are venting their anger at a refusal of Deutsche Bahn to accept the proposal for a 5% pay rise put forward by their trade union, GDL. Another key demand includes a reduction in working hours by cutting the working week from 39 to 37 hours.

E.ON says it could float Turkish power producer Enerjisa

Germany's E.ON has said it could float Turkish power producer Enerjisa, of which it owns 50 percent. A spokeswoman for E.ON said on April 16 there has been an agreement in principle with Turkey's Sabanc? Holding, the owner of the other half of Enerjisa, on a possible initial public offering (IPO) since 2012.

Swiss-French banker remanded over Siemens kickbacks scandal

A Swiss-French banker alleged to be a key figure in the Siemens cash-for-contracts scandal and implicated in corrupt arms deals is to spend Easter in Greek custody after testifying before an investigating magistrate.

The 55-year-old, identified in the media as Jean-Claude Oswald, was extradited to Greece earlier last week following his arrest in Abu Dhabi.