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Lufthansa takes control of Brussels Airlines

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17:00 CEST+02:00
German carrier Lufthansa will acquire full control of Brussels Airlines, the two companies said Monday after talks with SN Airholding of Belgium.

Lufthansa said in a joint statement it would initially take a 45 percent stake in SN Airholding for € 65 million ($96 million dollars) as part of a capital increase by the Belgian group.

The German airline will have an option to buy the outstanding shares from 2011 for a price of not more than € 250 million, the statement said.

Brussels Airlines is an offshoot of the bankrupt state-owned carrier Sabena and one of the few European airlines that does not belong to a major alliance. It is owned by around 40 shareholders, including the Virgin Group and several Belgian enterprises.

 
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