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Lufthansa Prepares to Buy Parts of Air Berlin in $1.8 Billion Deal

Lufthansa Prepares to #Buy Parts of Air Berlin in $1.8 Billion #Deal | @nytimes |  #MnA

  • LONDON — The German flag carrier Lufthansa said it expected to sign an agreement on Thursday to buy parts of Air Berlin, a low-cost carrier that filed for insolvency this summer.
  • Lufthansa, Germany’s largest airline, said it would take over 81 planes and hire 3,000 people from Air Berlin as part of an investment of 1.5 billion euros, or about $1.8 billion, confirming comments made by the chief executive, Carsten Spohr, published in the German newspaper Rheinische Post on Thursday.
  • “We will see a milestone in the history of Lufthansa and Air Berlin today,” Mr. Spohr told Rheinische Post.
  • A Lufthansa spokesman declined to provide further details because the agreement had not yet been signed.

The German flag carrier said it expected to take over 81 aircraft and hire 3,000 people from the budget airline, which filed for insolvency in August.

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

Lufthansa, Germany’s largest airline, said it would take over 81 planes and hire 3,000 people from Air Berlin as part of an investment of 1.5 billion euros, or about $1.8 billion, confirming comments made by the chief executive, Carsten Spohr, published in the German newspaper Rheinische Post on Thursday.

“We will see a milestone in the history of Lufthansa and Air Berlin today,” Mr. Spohr told Rheinische Post.

A Lufthansa spokesman declined to provide further details because the agreement had not yet been signed.

Air Berlin filed for insolvency in August, and it is one of several European airlines that have struggled recently, causing a nightmare for thousands of passengers.

The Italian carrier Alitalia filed for bankruptcy in May. Monarch Airlines, a British budget airline and tour operator, collapsed this month, forcing the British government to step in and bring home more than 100,000 travelers stranded abroad.

And Ryanair, an Irish discount airline, has been forced to cancel thousands of flights because of mistakes in its handling of vacation time for pilots and to avoid further cancellations in the future.

Lufthansa Prepares to Buy Parts of Air Berlin in $1.8 Billion Deal

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