Eyeing Air Berlin, Lufthansa board backs extra investment for Eurowings
BERLIN (Reuters) – Lufthansa’s <LHAG.DE> supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent.
Air Berlin’s creditors have selected Lufthansa and British budget carrier easyJet <EZJ.L> to negotiate over a carve-up of its assets.
The Lufthansa investment is set to be used for the purchase and lease of 41 A320 <AIR.PA> single aisle jets and 20 Bombardier <BBDb.TO> Dash 8 Q400 planes, Lufthansa said.
Those planes will likely come from Air Berlin, with Lufthansa s…
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