Lufthansa Explores Partial Sale Of Aircraft Business As It Battles Strikes, Workforce Shortage - Deutsche Lufthansa (OTC:DLAKY)

Deutsche Lufthansa AG DLAKY looks to talk with private equity investors in December regarding a partial sale of its aircraft maintenance business Lufthansa Technik, Reuters reports citing Handelsblatt.
In a best-case scenario, the board could have a list of non-binding offers in January 2023.
The board aimed for a valuation of €6 billion - €8 billion ($5.99 billion-$7.99 billion), including debt.
Since the Covid-19 outbreak first erupted, the aviation sector has been in turmoil. Circumstances forced airlines to strengthen their battle plans to counter this summer's travel turmoil due to a perfect storm of strikes and workforce crisis.
Passenger numbers for leisure and business flights rebounded to exceed pre-pandemic numbers; however, the airline industry staff shortage has pushed the airlines to cancel several flights and routes.
Earlier, the plot's union threatened additional disruption to Lufthansa during the busy summer travel unless it met their pay hike demand.
Lufthansa canceled over 1,000 flights due to the ground staff's strike, which had already shaken the airline.
Price Action: DLAKY shares closed at $6.11 on Wednesday.
Photo via Wikimedia Commons