BERLIN (Reuters) – Lufthansas (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 Berlins 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 saying the purchase or lease of the planes is partly dependent on a successful conclusion of talks to take over assets from Air Berlin (AB1.D…
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