Article from BTNews 19 DECEMBER 2016
Brussels Airlines takeover finalised
The Lufthansa Group has completed its takeover of Brussels Airlines (SN), with the Belgian carrier scheduled to be integrated fully into the parent company as of 2018 and joining the Eurowings Group.
Lufthansa said its new acquisition’s attractive home markets of Belgium and Brussels and well-established Africa network would strengthen the Lufthansa and Eurowings Group market position, while its advantageous cost-structure allowed Brussels Airlines to compete successfully with tough low-cost competition in the Belgian market.
Lufthansa Group chairman and CEO Carsten Spohr said: “Following the acquisition of the 45% share of SN Airholding eight years ago, we now want to take a next step in our already very solid and successful co-operation.
“As a longstanding shareholder and partner of Brussels Airlines, we are already closely linked to each other. Accordingly, we value Belgium and especially Brussels as highly-attractive markets that perfectly complement our offer in the heart of Europe.”
After the acquisition, Brussels Airlines will continue to operate its 23 long-haul destinations as well as 79 destinations within Europe under the umbrella of the Eurowings Group.
The current fleet harmonisation towards an Airbus A320 family fleet for the European network will also continue; the carrier currently has 42 short- and medium-haul and nine A330 long-haul aircraft.
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