Lufthansa Buys Brussels Airlines
September 16th, 2008 | by Administrator |Lufthansa has firmed up its second major takeover in the European air transport sector since the 2005 acquisition of Swiss International Air Lines, announcing that it is taking control of Brussels Airlines.
The acquisition gives Lufthansa access to the intra-European market, as well as a relatively broad African network. The deal was announced in Brussels on Monday afternoon.
Lufthansa initially buys 45% of Brussels for EUR65 million. It plans to take the remaining 55% in 2011 when Belgian’s bilateral air service agreements with non-EU countries are renegotiated to allow for foreign majority ownership.
