Lufthansa snaps up airberlin assets following EU approval

Lufthansa Snaps Up Airberlin Assets Following EU Approval

The European Commission has given its formal approval to the acquisition of Luftfahrtgesellschaft Walter by the Lufthansa Group.

Lufthansa Snaps Up Airberlin Assets Following EU Approval

The approval follows an extensive assessment of the planned transaction by the European Union’s competition authorities in their merger control capacity, after the Lufthansa Group concluded an agreement in October to take over parts of the insolvent airberlin Group.

Lufthansa Snaps Up Airberlin Assets Following EU Approval

Lufthansa had made extensive concessions in advance of today’s approval.

Lufthansa Snaps Up Airberlin Assets Following EU Approval

The acquisition of LGW will see 33 aircraft firmly added to the Eurowings Group fleet: 20 Bombardier Dash 8 Q400s as well as 13 aircraft of the Airbus A320 family.

Lufthansa Snaps Up Airberlin Assets Following EU Approval

All the employees of LGW will transfer to Eurowings with their current contracts of employment.

Lufthansa Snaps Up Airberlin Assets Following EU Approval

With additional recruitments, the number of personnel in LGW’s flight operations should rise to up to 870 in 2018.

Lufthansa Snaps Up Airberlin Assets Following EU Approval

“This specific regulatory approval of our acquisition of LGW is usually an encouraging development,” said Thorsten Dirks, member of the Lufthansa Group board as well as chief executive, Eurowings.

“as well as I am especially pleased in which we can offer our brand-new employees promising prospects within Europe’s fastest-growing airline.”

The formal transaction for the acquisition of LGW has been scheduled for January 2018.

Over the past few weeks, Eurowings has already hired over 500 employees, including a large number of pilots as well as flight attendants.

Dirks added: “We possess the support of our social partners, we are an attractive employer, we have as well as will be getting more first-rate employees – with these conditions, Eurowings will continue to be a growth engine in 2018.”

Lufthansa snaps up airberlin assets following EU approval

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