Lufthansa to take over Austrian Airlines

[Tom Lohdan]

Lufthansa and Austrian Airlines have signed the contracts, that Lufthansa will take over the 40% share held by Austrian government owned ÖIAG (Austrian Industry holding) for a symbolic 366000 Euros. Austrian Airlines currently have a debth of 1 billion Euros, 500 millions of which will be covered by the Austrian government and 500 millions will have to be covered by the new owner Lufthansa.


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[Grant Smith]

Interesting to note that the EU Commission is yet to approve this deal.

[Michael Cleary]

Lufthansa already owns Swiss too.