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BERLIN, Oct. 12 (Xinhua) — German market leader Lufthansa signed an agreement to acquire the lion’s share of the insolvent carrier Air Berlin on Thursday.
Lufthansa Chief Executive Officer (CEO) Carsten Spohr told press that it was a “big day” for his company which will gain an even tighter grip on Germany’s commercial aviation industry by taking over large parts of its former rival.
Air Berlin employs around 8,000 staff and was the second largest German carrier until it declared insolvency in August. The budget airline subsequently received an emergency state credit facility of 150 million euros from Berlin to ensure its continued operations until a new owner was found.
Air Berlin’s management…
Read the full article at: http://news.xinhuanet.com/english/2017-10/12/c_136674954.htm