Lufthansa to Take Over Brussels Airlines
Lufthansa said Thursday it was exercising an option to acquire the 55% of Brussels Airlines it does not already own.
The transaction will cost the German flag carrier €2.6 million ($2.7 million), the low cost due to the €45 million it has already loaned the airline.
“We value Belgium and especially Brussels as highly attractive markets that perfectly complement our offer in the heart of Europe,” said Carsten Spohr, Lufthansa’s CEO.
The transaction is expected to close in January 2017. Brussels Airlines will be fully integrated into the Lufthansa Group as part of its Eurowings low-cost unit, under which the airline will operate flights to its 23 long-haul destinations as well as its 79 destinations within Europe.
Lufthansa first acquired 45% of Brussels Airlines eight years ago.
(Photo: Accura Media Group)