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Lufthansa takes over Brussels Airlines

Xinhua, December 16, 2016 Adjust font size:

The Lufthansa group confirmed on Thursday the 100 percent takeover of SN Airholding, the parent company of the Belgian airline Brussels Airlines.

The deal aims to fully integrate Brussels Airlines into the Lufthansa's Eurowings Group as of 2018.

Lufthansa's executive board agreed to exercise the call option for the outstanding 55 percent of the shares, for which it will pay 2.6 million euros. Lufthansa had acquired 45 percent share of SN Airholding eight years ago.

According to a Lufthansa statement, after the acquisition, Brussels Airlines will continue to operate its 23 long-haul destinations as well as 79 destinations within Europe under the umbrella of the Eurowings Group. The brand "Brussels Airlines" will be complemented by the claim "Member of the Eurowings Group".

"We value Belgium and especially Brussels as highly attractive markets that perfectly complement our offer in the heart of Europe. In addition, Brussels Airlines has a competitive cost structure already and brings a well-established long-haul network, especially to and from Africa, to the Lufthansa Group portfolio," said Carsten Spohr, chairman of the Executive Board of Deutsche Lufthansa AG. Endit