Air Transport World

Clash of the titans.(NewsBriefs)(Brussels Airlines)(Brief article)

Consolidation activity moved to the front burner in Europe as the continent's leading airlines turned up the heat at the end of the summer. After a brief absence, Air France KLM returned to the teetering Alitalia table while Lufthansa is taking over Brussels Airlines and AF KLM and LH are competing for a stake in Austrian Airlines Group.

In a deal announced Sept. 15, LH will take a 45% "strategic" stake in Brussels Airlines parent SN Airholding for [euro]65 million ($92.4 million). It will have the option of acquiring the remaining 55% from 2011. Total purchase price will not exceed [euro]250 million, both sides agreed. The deal is dependent upon approval of regulatory authorities and LH's supervisory board as well as SN's shareholders and board. …

Log in to your account to read this article – and millions more.