Business

Lufthansa agrees to buy parts of insolvent Air Berlin

Lufthansa agrees to buy parts of insolvent Air Berlin
A Lufthansa airliner taxis next to the Air Berlin aircraft at Tegel airport in Berlin. Photo: Reuters
Published: 9:20 PM, October 12, 2017
Updated: 12:35 AM, October 13, 2017

FRANKFURT - Lufthansa <LHAG.DE> agreed to buy parts of insolvent German airline Air Berlin <AB1.DE> for around 210 million euros ($248.72 million), Air Berlin said on Thursday.

The deal includes Air Berlin's Austrian leisure travel airline Niki, its LG Walter regional airline and 20 further aircraft, its said in a statement, adding that the purchase price was subject to adjustments upon closing.

Negotiations with Britain's easyJet <EZJ.L> and other bidders for other parts of the business are ongoing, Air Berlin said. REUTERS