Lufthansa to buy large parts of bankrupt Air Berlin

Lufthansa_A350-900

Ryanair is set to challenge a Lufthansa deal to to buy parts of failed German carrier Air Berlin.

The statement, sales process, Committee on creditors, institutions responsible for bankruptcy process in Germany and approval of European competition institutions were transferred.

The CEO said that a milestone in Lufthansa's history will be seen in Berlin on Thursday.

Air Berlin filed for bankruptcy in August after its main shareholder, Etihad, said it would not give further financial support.

Air Berlin is one of three European airlines to become insolvent in recent months.

Air Berlin, the second largest carrier in Germany, will end all operation of its flights during October, capping a tumultuous summer for carriers in Europe.

Linkin Park Get 'Back To Work' After Chester Bennington's Death
Linkin Park debuted an episode of Carpool Karaoke the band appeared in a week before singer Chester Bennington's death . The footage features Bennington , actor and comedian Ken Jeong , and band members Mike Shinoda and Joe Hahn .

In August, Ryanair CEO Michael O'Leary slammed the government intervention as a "stitch up", in August, and called on the European Union competition authorities to block a Lufthansa takeover.

Lufthansa Chairman and CEO Carsten Spohr said the giant would sign the deal, which would mean the acquisition of parts of Air Berlin, including 81 aircraft and 3,000 employees, for a price tag of 1.5 billion euros ($1.78 billion), Efe news reported.

Shares in Lufthansa rose 2.8% in Frankfurt.

Britain's EasyJet is reportedly still in negotiations to buy some of the Air Berlin planes that haven't been snapped up by Lufthansa.

Air Berlin, which accumulated debt for nearly a decade, reported a record loss of €782m (£713m) for a year ago.

Related News:

  • Donald Trump refuses to commit to trade pact — NAFTA

    Donald Trump refuses to commit to trade pact — NAFTA

    President Donald Trump and Trudeau have been friendly in public, privately their countries are driving hard bargains on trade. Indeed, Videgaray's recent career trajectory provides an insight into Mexico's tumultuous relationship with the US president.
    Massive Hole Appears In Antarctic Ice and Scientists Aren't Sure Why

    Massive Hole Appears In Antarctic Ice and Scientists Aren't Sure Why

    The going theory on what caused it has to do with water currents and a flow of warmer water rising up and melting the ice. One of the biggest reason as to why this polynya remains so mysterious is that it's quite hard to explore such areas.
    United States  flies bombers over Korean peninsula as Trump discusses options

    United States flies bombers over Korean peninsula as Trump discusses options

    U.S. officials have voiced their concern that Kim Jong-un's nation could launch cyber attacks on American infrastructure. He said the North's strategic forces have "inexhaustible power that won't leave aggressor state America unpunished".
  • Chile will not report Peru & Colombia for alleged World Cup 'pact'

    Chile will not report Peru & Colombia for alleged World Cup 'pact'

    Peru will now go up against New Zealand in a two-legged encounter with the victor guaranteed a place at next summer's tournament.
    Appeals Court Vacates Ezekiel Elliott's Injunction, Clears Path To Suspension

    Appeals Court Vacates Ezekiel Elliott's Injunction, Clears Path To Suspension

    To get the background story on the entire Elliott case, check out The Latest On The Ezekiel Elliott Appeal Suspension . The NFLPA is expected to file a motion for a temporary restraining order and preliminary injunction in the U.S.
    Donald Trump set to 'decertify' 2015 Iran nuclear deal

    Donald Trump set to 'decertify' 2015 Iran nuclear deal

    But it could be hard to get both Iran and its ally, Russia, back to the table for a new round of talks. Connecticut Senator Chris Murphy today urged the president not to decertify the Iran nuclear deal.
  • Bitcoin price soars to record high

    Bitcoin price soars to record high

    It is important to note that the valuation of Bitcoin is highly volatile and more hard to sell than traditional assets. The price of bitcoin , the world's best-known cryptocurrency , has smashed through $5,000 to a new all-time high.
    'White widow' jihadi killed by U.S.  drone

    'White widow' jihadi killed by U.S. drone

    A BBC correspondent on security issues Frank Gardner believes that Sally Jones has been an important agent of propaganda "ID". When she arrived she married British-Pakastani hacker Junaid Hussain who was killed in a drone strike in 2015.
    NHS staff urged to get flu jabs to protect patients

    NHS staff urged to get flu jabs to protect patients

    Northcott said the Health Alliance will be having daily flu shot clinics for staff beginning October 19 until the end of November. The second reason is that experts annually review the formulation of the flu vaccine due to the viruses' constant changes.
  • Equifax may have been breached again

    Equifax may have been breached again

    The hack has led to multiple federal and state investigations and the departure of the company's 12-year chief executive. The cyberattack occurred through a vulnerability in an open-source application framework it uses called Apache Struts.
    Man charged for rigging Airbnb rental with hidden cameras

    Man charged for rigging Airbnb rental with hidden cameras

    A Florida man has been charged after an IN couple found a hidden camera IN his Airbnb property they were renting. But even with all that in place, it's hard for guests to know to look for a tiny hole in a smoke alarm.
    Bay Area pro sports teams combine to donate $450000 to fire relief

    Bay Area pro sports teams combine to donate $450000 to fire relief

    Those trying to protect themselves are advised to wear N95 masks to minimize smoke inhalation, according to air-quality officials. Residents in Napa, Solano and Sonoma counties should try to stay inside buildings with air conditioning.


Most liked

Razer's first ever smartphone could be coming next month
Unfortunately outside of that, we know very little about Razer's smartphone plans as they have been kept heavily under wraps. When we hear about Razer , we usually think of its sleek line of high-end gaming laptops and gaming accessories.

Indian Court Bans Underage Sex in Child Marriages
But provides an exception saying it is not rape, if the husband has sex with the wife, while she being not under 15 years of age. Rape is recognised as an offence against the very nature of consent as well as against the society under the Indian Penal Code.

Trump Warns Puerto Rico Weeks After Storms: Federal Help Cannot Stay 'Forever'
He blamed Puerto Rico for its looming financial crisis and "a total lack of accountability". But Trump's tweets on Thursday raised questions about whether the USA resolve.

EPS Growth overview of Energy Transfer Partners, LP (ETP)
Moreover, Aviance Prns Limited Liability Com has 0.15% invested in Spectra Energy Partners, LP (NYSE:SEP) for 10,695 shares. The stock of Spectra Energy Partners, LP (NYSE:SEP) has "Neutral" rating given on Wednesday, September 7 by Piper Jaffray.

Cyrus Capital Partners LP Cuts Stake in Delta Air Lines, Inc. (DAL)
The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. (NYSE: DAL ) rating on Thursday, May 25. July 14 investment analysts at Deutsche Bank held the company rating at "Buy" but raised the price target to $62.00 from $58.00.

"Extensive" hack breaches Australian defence data
Australia's cyber security has dubbed the mystery hacker, "Alf", after the beloved Australian TV soap Home and Away . However, he added that the incident was a "salutary reminder" about cyber security.

NBC's Seth Meyers to Trump Supporters: Stop Watching My Show; "Go Away"
Eminem closed the piece by saying people who don't support the president love the military and the country, but "hate Trump ". He then tried his own hand at dropping rhymes: "My name is Seth and I'm here to say, if you like Trump then go away".

Richard Branson invests in the hyperloop
Musk's hyperloop involvement is for now limited to potentially building the tunnels with his latest startup - The Boring Company. We'll see just how much of an asset Virgin's know-how is to the development of Hyperloop One soon enough, so stay tuned.

Trade deal possible with Canada, minus Mexico
Under the USA proposal, America would require more to be made in the country and less sourced from other members of the block. This week the influential US Chamber of Commerce warned it was time to "ring alarm bells" over the NAFTA talks.

India's retail inflation static at 3.28% in September
The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month. The Central Statistics Office (CSO) also revised downwards the August inflation to 3.28 per cent from 3.36 per cent.

(JPM) Shares Sold by Legacy Private Trust Co
Glacier Peak Capital LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $129,000. Also, insider Ashley Bacon sold 6,514 shares of the firm's stock in a transaction that occurred on Thursday, May 11th.

Hamas and Fatah sign unity deal
Palestinian negotiators from rival Hamas and Fatah factions have signed a reconciliation deal at a short ceremony in Cairo . Egypt has helped to mediate several attempts to reconcile the movements and form a power-sharing government.

Arsene Wenger admits Gunners ARE considering selling Mesut Ozil in January
Asked if Arsenal had set a deadline for contract negotiations with the pair to conclude, Wenger replied: "No". The fact that we didn't find agreement past year doesn't mean he wants to leave.

Aarushi murder case: Allahabad HC acquits couple Nupur, Rajesh Talwar
Initially, the UP police had suspected Talwars' servant Hemraj, who was missing after the murder, as the murderer. Later in 2012, his wife Nupur surrendered before a Ghaziabad court before trial and was also sent to Dasna Jail.

Ophelia Becomes Atlantic's Tenth Hurricane in a Row
Ahead of the heavy wind and rain Hurricane Ophelia will bring with it, temperatures are set to reach 20 degrees over the weekend. It will coincide with the 30th anniversary of the Great Storm of 1987, which hit southern England overnight on October 15.