=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SFGate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2004/05/24/f= inancial0833EDT0012.DTL --------------------------------------------------------------------- Monday, May 24, 2004 (AP) Germany's Lufthansa plans to raise $900 million with new shares, helping fu= nd A380 (05-24) 07:16 PDT FRANKFURT, Germany (AP) -- Germany's Lufthansa on Monday announced it would issue new shares to rai= se at least 750 million euros ($900 million) that will go in part to help fund its purchase of Airbus' A380 superjumbo airplanes. Lufthansa is one of 11 airlines so far that have placed firm orders for the European aircraft manufacturer's double-deck airliner, which is due to enter service in 2006. "With this capital increase we are investing in the future of our network carrier model," Lufthansa chief executive Wolfgang Mayrhuber said in a statement. "In addition to expanding its fleet with the new super-size aircraft, the company plans capital expenditures for the preparation of operations and supporting infrastructure," the statement added. Once in operation, Lufthansa expects the A380 to "yield significant cost advantages on long-haul flights." Mayrhuber told a news conference that Lufthansa would spend 4.72 billion euros ($5.65 billion) over the next three years ahead of the A380's introduction. Some 2.77 billion euros ($3.32 billion) of that will be spent on an initial order of 15 superjumbos, the first of which will join the airline's fleet in 2007, Mayrhuber said. Just less than 2 billion euros ($2.4 billion) will be spent on infrastructure, including maintenance and training facilities, between now and 2006. The airline said 76.3 million new shares would be issued at a subscripti= on price of at least 9.85 euros ($11.80) per share, with the subscription period running from June 3-16. Lufthansa shares were down 4.1 percent at 11.61 euros ($13.91) by midafternoon on the Frankfurt exchange. ---------------------------------------------------------------------- Copyright 2004 AP