Sept. 15 (Bloomberg) — Deutsche Lufthansa AG, Europe’s second-largest airline, agreed to buy 45 percent of Brussels Airlines for 65 million euros ($92 million) as the pace of consolidation in the industry accelerates.
Lufthansa will take the stake in parent company SN Airholding, adding 12 destinations, the companies said today at a press conference outside Brussels. The Cologne, Germany-based carrier’s investment is in new shares and it has an option to buy the remaining 55 percent starting in 2011 in a deal that would bring the total takeover price to as much as 250 million euros.
Lufthansa really seems to be taking over Europe!
More importantly though to me:
The German carrier will get three seats on the SN Airholding board. Brussels Airlines will join the Star Alliance of carriers and retain its brand.
I always like more options, so that’s great news. While they don’t have an incredible longhaul product or much service to far away lands, they present several new options for short to medium haul flights out of BRU.
Oh, and sadly for my AAdvantage friends (and at times for me), I’m betting this means the partnership will eventually end, although it’ll be far from instant.