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IFL Flash News
Annual results were negatively impacted by $105.0 million inpre-tax inventory write-downs, a $96.9 million pre-tax goodwill impairmentcharge, and $43.0 million in pre-tax restructuring charges, partially offset byan $8.3 million pre-tax gain on the sale of Aegis, which in total reducedearnings per share by $2.23. For fiscal 2009, net sales of $2.6 billion, were 14% lower than the $3.1 billionreported last year. Net loss was $108.2 million, or $1.37 per diluted share,compared to net earnings of $107.1 million, or $1.31 per diluted share, forfiscal 2008. The prior year quarter included $4.9 million in pre-taxrestructuring charges which reduced earnings per share by $0.04.
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Originally, the East German national airline was called Deutsche Lufthansa (officially Deutsche Lufthansa GmbH der DDR), but this met opposition from West Germany, with a court case in Bern awarding the Lufthansa trademark to the West German company.
Similarly, other airlines showed lukewarm interests in gaining a foothold in Germany's aviation sector by propping up the money-losing Interflug.In March 1991, Interflug was liquidated by the government and Lufthansa was selected as the agent for liquidation." COMPANY NEWS; East German Airline Closed." Reuters at The New York Times.
Following reunification, the airports in the former GDR were sold off separately.
This was due in part to operating 1960s era aircraft, running the airline within the rigid constraints of a planned economy, and bureaucratic interference in daily operations.
The Lufthansa deal fell through but government's hopes did not materialize as British Airways sought shares in Delta Air Lines instead.
The most famous is the IL-62 with the call sign DDR-SEG that was intentionally landed on a 900m grass strip of the StÃ¶lln/Rhinow hilltop in an extremely risky manoeuvre on 23 October 1989 to commemorate the fatal crash of Otto Lilienthal (1848â€“1896) at Gollenberg Hill.
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