National flag bearer of Germany, Lufthansa, purchased twenty Boeing 737 aircraft in January 1985 for $ 500 million. Payment was due in January 1986, after the delivery of aircraft from the American manufacturer. At the time of purchase, the U.S. dollar was at a record high relative to the German mark, he was constantly appreciating against the German mark in the next five years. General Director of Lufthansa, Mr. Heinz Ruhnau, is responsible for determining that the hedge, if any, E is used in conjunction with the dollar exposure.
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by Michael Moffett Source: Thunderbird School of Global Management 8 pages. Publication Date: December 7, 1999. Prod. #: TB0183-PDF-ENG
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