Subscribe to RSS feedHapag-Lloyd may not need government safety net
Struggling German container line Hapag-Lloyd reported an operating loss of €675m (US$982m) in the first nine months of this year, but may not need to use government guarantees to back its loans should markets recover next year.
Tourism group Tui, the line’s largest single shareholder with a 43.3% stake, said the deficit compared with an operating profit of €212m in the corresponding period of 2008.
Tui chief executive Michael Frenzel expressed optimism that the bottom had been reached...
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