Lufthansa has bought a large chunk of Air Berlin

Lufthansa has bought a large chunk of Air Berlin

Lufthansa has bought a large chunk of Air Berlin

Photo Lufthansa, Germany's largest airline, said it expected to take over 81 planes from Air Berlin, a low-priced carrier that filed for insolvency this summer.

"Today is a big day, which we will seal in a few hours with a signature", Spohr said.

Air Berlin, which once employed around 8,000 people, filed for bankruptcy in August after its funding was cut off by Etihad, one of its major shareholders.

Lufthansa CEO Spohr said that he expected the imminent deal for Lufthansa with Air Berlin would receive necessary approval from the European Union before the end of 2017.

The German flag carrier Lufthansa said it expected to sign an agreement on Thursday to buy parts of Air Berlin, a low-priced carrier that filed for insolvency this summer.

The move drew fire from European competitors, which accused the German government of unfairly helping the Frankfurt-based Lufthansa get a leg up on the its EU rivals by offering Air Berlin a lifeline.


Flights continued after a transitional loan of €150m from the German government.

Britain's EasyJet is reportedly still in negotiations to buy some of the Air Berlin planes that haven't been snapped up by Lufthansa.

Germany's second-largest carrier has since been negotiating with potential buyers for parts of its business.

Lufthansa has agreed to purchase portions of insolvent German airline group Air Berlin for $249 million.

Lufthansa shares were up over 2.9%, which was the highest mover on the DAX market index in Germany in Thursday morning trading.

Air Berlin carried an average of 80,000 people a day, but endured losses of an estimated 782 million Euros previous year.

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