Europe/ CIS: Lufthansa to take over Brussels Airlines
Lufthansa will take over Brussels Airlines, the carriers announced recently, in a deal that potentially values the Belgian carrier at â‚¬250 million (US$355.6 million) and could pave the way for its entry into Star Alliance. In a first step, LH will take a 45 per cent “strategic” stake in Brussels Airlines parent SN Airholding for […]
October 1, 2008
In a first step, LH will take a 45 per cent “strategic” stake in Brussels Airlines parent SN Airholding for â‚¬65 million. It will have the option of acquiring the remaining 55 per cent from 2011. The two-phased agreement is dependent upon approval of regulatory authorities and LH’s supervisory board as well as SN’s shareholders and board.
Brussels Airlines, launched in 2006, is the fruit of a merger between Brusselsbased LCC Virgin Express and its fullservice competitor SN Brussels Airlines, which itself was the successor to former Belgian flag carrier Sabena.