Shares in cash-strapped travel firm Thomas Cook jumped after Lufthansa confirmed it has made a bid for Condor, the UK Group's German airline arm.

By Christopher Jasper and Chiara Albanese

Ryanair boss Michael O’Leary has made the Forbes list of the world’s newest billionaires with a reported wealth of $1.1bn (€887m).

Lufthansa has said its likely purchase of the bulk of Air Berlin will make it “very well positioned” to compete better with Ryanair across Europe, even though it will still have an inferior share of the market.

Lufthansa has said its likely purchase of the bulk of Air Berlin will make it “very well positioned” to compete better with Ryanair across Europe, even though it will still have an inferior share of the market.

Lufthansa is considering buying a majority of insolvent Air Berlin’s aircraft, sources have said, as the German government and rivals race to carve it up.

British airline Easyjet is set to win unconditional EU competition approval to buy parts of failed German peer Air Berlin, say sources.

Lufthansa chief Carsten Spohr expects France and Germany to take a hard line against the UK aviation industry in Brexit negotiations, threatening to disrupt flight connections across Europe.

Lufthansa said a slide in fares triggered by excess capacity is beginning to slow, easing the burden on earnings as fuel costs rise.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today.

Lufthansa has given a gloomy outlook for the key summer season and said it would focus on reducing costs after attacks in Europe deterred passengers from booking trips, creating price pressure for the German airline and its European rivals.

Ryanair boss Michael O’Leary has said that the airline is on course to usurp Air Berlin as the second largest player in the German market behind national flag carrier Lufthansa.

A group of parents whose children were killed in the Germanwings plane crash have released a scathing letter to Lufthansa’s chief executive, accusing him of ignoring their needs and feelings and insulting them with his company’s compensation offer.

Five of Europe’s biggest airline groups, including Ryanair, have joined forces for the first time to lobby the European Commission to cut taxes and reduce air traffic control strikes as part of the new aviation strategy being drawn up.

Germanwings co-pilot Andreas Lubitz appears to have hidden evidence of an illness from his employers, including having been excused by a doctor from work the day he crashed a passenger plane into a mountain.

The Germanwings airline said it is stunned and “utterly baffled” as to why one of its pilots deliberately crashed a plane into the Alps killing himself and 149 other people.

The French Alps plane disaster took a dramatic turn after black box recordings pointed to the co-pilot deliberately crashing the Airbus A320 into the mountains.

Lufthansa pilots began the first of two days of strike action yesterday in a long-running dispute over early retirement benefits and cost-cutting plans which shows no sign of ending.

Lufthansa chief executive Carsten Spohr said the German airline needs a deeper overhaul after acknowledging the most expansive saving plan to date was swept away by higher costs and falling ticket prices.

Lufthansa may launch low-cost long haul flights under a new brand as part of plans to attract more price conscious travellers and battle competition from Middle East carriers and low cost airlines, its new chief executive said yesterday.

Lufthansa cut profit targets for the next two years citing competition from Middle East and low-cost rivals, sending shares plunging.