Tuesday, 17 July 2018
Latest news
Main » Lufthansa Set To Sign Air Berlin Deal

Lufthansa Set To Sign Air Berlin Deal

12 October 2017

Lufthansa has agreed to take over a large part of Air Berlin, which went bankrupt a couple months back after years of mounting losses and the withdrawal of support from Abu Dhabi-based Etihad, its key shareholder and creditor.

Lufthansa would be interested if there was an opportunity to create a new Alitalia, the German flagship carrier's Chief Executive Carsten Spohr said on Thursday. "The deal with Lufthansa is done, there is agreement", an inside source told Reuters on Wednesday.

More news: First Industrial Realty Trust, (NYSE:FR) Sees Significantly Lower Trading Volume

Mr. Spohr said that he expects that it will take up to one year for Lufthansa to fully integrate Air Berlin's aircraft and teams. So far, there has been no sign of an agreement between Air Berlin and Easyjet for remaining parts of the business, nor has Lufthansa announced how much it will pay under the deal.

Air Berlin has kept flying since August as a result of the German government providing it with a bridging loan of 150 million euros.

More news: Singleton truck crash: Driver of alleged stolen semi-trailer refused bail

Media reported, citing a person familiar with the matter, that Lufthansa, Germany's largest airline, was set to buy Air Berlin's Austrian leisure travel airline Niki, its LG Walter regional airline, as well as some additional short-haul aircraft.

More news: Elon Musk's SpaceX successfully launches satellite for EchoStar, SES

Lufthansa Set To Sign Air Berlin Deal