Lufthansa to acquire majority of insolvent Air Berlin

According to The Telegraph bankrupt airline carrier Air Berlin will end service on all its routes no later than October 28

According to The Telegraph bankrupt airline carrier Air Berlin will end service on all its routes no later than October 28

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.

A person who is familiar with the ongoing situation said Wednesday that Lufthansa, the largest airline in Germany, was going to acquire the Niki, the Austrian leisure travel line of Air Berlin, its regional airline LG Walter, and also some other aircraft that were short-haul.

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.

"This contract provides new opportunities for jobs for a large part of our workforce".

Lufthansa CEO Carsten Spohr had earlier suggested that Lufthansa would purchase 81 of Air Berlin's 144 planes, as well as take on around 3,000 of the company's staff.

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However, Ryanair, which has previously called the talks a "stitch-up", said it would be referring the matter to the European Union competition authority in due course.

EasyJet, which has a base at Berlin's Schoenefeld airport, has been discussing acquiring 27 to 30 planes.

"The negotiations are still underway with easyjet", Air Berlin said in a special sales meeting with Lufthansa and British airline EasyJet since 25 September 2017. It made a loss of about 782 million euros past year.

Lufthansa's Spohr said on Thursday while he was not interested in the Italian carrier in its current shape he would be interested in talks to create a new Alitalia.

Lufthansa shares were up over 2.9%, which was the highest mover on the DAX market index in Germany in Thursday morning trading. The German government then stepped in to buy time for what was the country's second-biggest airline with a €150 million ($178 million) loan until it could find a buyer.

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