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Lufthansa
內容大綱
The national flag-bearer of Germany, Lufthansa, purchased twenty 737 Boeing aircraft in January of 1985 for $500 million. The payment was due in January of 1986 upon delivery of aircraft from the U.S. manufacturer. At the time of the purchase, the U.S. dollar was at a record high versus the Deutschemark, it had been steadily appreciating against the Deutschemark for five years. The CEO of Lufthansa, Herr Heinz Ruhnau, was responsible for determining what hedging, if any, would e used in conjunction with the dollar exposure.