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Full acquisition of Brussels Airlines not before September 2016

April 29, 2016 Business News No Comments Print Print Email Email

The Executive Board of Deutsche Lufthansa AG informed the company’s Supervisory Board at its meeting today that Lufthansa and Brussels Airlines have agreed to extend by a further three months the deadline for Lufthansa to decide on the call option to fully acquire Brussels Airlines’ parent company SN Airholding.

Under their existing agreement, Lufthansa was required to take this decision, through which it could acquire the remaining 55% of SN Airholding, by the beginning of June. This deadline has now been extended to the end of August. The call option could be exercised not before September 2016.

The option has been extended in the wake of the terrorist attacks at Brussels Airport on 22 March and their repercussions. “Our colleagues at Brussels Airlines are currently devoting all their energies and resources to restoring reliable flight operations for their customers at their home airport following these terrible attacks,” says Carsten Spohr, Chairman of the Executive Board & CEO of Deutsche Lufthansa AG. “That is a major challenge under the current security provisions, and must now be the priority. And in view of this, we have agreed with Brussels Airlines to give ourselves a further three months to conclude our negotiations on the acquisition terms and devise the migration concept required.”

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