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Indiaexportnews.com

Lufthansa to take over Brussels Airlines from New Year

  20.12.2016    

Lufthansa has confirmed that it is exercising an option to purchase the remaining 55 per cent shareholding of SN Airholding, the parent company of Brussels Airlines, for EUR2.6 million (US$2.717 million), according to Shipping Gazette.
The transaction is expected to close by the beginning of January 2017. Thereafter, Brussels Airlines will be "fully integrated" into the Lufthansa Group. Under its new ownership structure, Brussels Airlines will serve its 79 European and 23 long-haul destinations under the umbrella of the Eurowings Group, reported London's Air Cargo News.
The takeover adds 51 planes to the Lufthansa group, and will expand its footprint in Africa, where Brussels Airlines flies to many sub-Saharan destinations.
Chief executive of Deutsche Lufthansa AG, Carsten Spohr, commented: "Following the acquisition of the 45 per cent share of SN Airholding eight years ago, we now want to take a next step in our already very solid and successful cooperation.
"As a longstanding shareholder and partner of Brussels Airlines, we are already closely linked to each other. Therefore, we value Belgium and especially Brussels as highly attractive markets that perfectly complement our offer in the heart of Europe.
"In addition, Brussels Airlines already has a very competitive cost structure and brings a well-established long-haul network, especially to and from Africa, to the Lufthansa Group portfolio.
Brussels Airlines operates a fleet of regional aircraft, Airbus 319/320 family aircraft and widebody A330s. Brussels Airport will become an Africa hub for the Lufthansa Group and Brussels Airlines is expected to continue operating both intra-European and intercontinental flights at the airport.
Carsten Spohr is to join the Brussels Airlines board as co-chairman alongside chairman of SN Airholding, Etienne Davignon. Currently, the Brussels Airlines management board remains unchanged under the leadership of CEO Bernard Gustin.



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