Brussels Airlines CEO expects EU Commission to clear Lufthansa deal

Read us | Listen to us | Watch us |Events| Subscribe|


Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Corsican Corsican Croatian Croatian Czech Czech Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Xhosa Xhosa Yiddish Yiddish Zulu Zulu
00cccc_0

The Co-Chief Executive of Brussels Airlines said on Thursday he expects the EU Commission to give its green light to Lufthansa’s planned acquisition of the Belgian carrier in the next coming days.

Print Friendly, PDF & Email

The Co-Chief Executive of Brussels Airlines said on Thursday he expects the EU Commission to give its green light to Lufthansa’s planned acquisition of the Belgian carrier in the next coming days.

“We are preparing ourselves that a statement would be issued in the next coming days,” Bernard Gustin told Reuters in an interview.

Sources said the EU would clear the deal but would slap conditions at the same time, such as giving some of the starting and landing rights to rivals.

Lufthansa will initially acquire a 45 percent stake in the airline for 65 million euros ($90.71 million) while the current shareholders, which include Virgin Group, will own 55 percent.

From 2011, Lufthansa has the option to acquire another 55 percent stake.

Gustin said he does not expect Brussels to be profitable in 2009 but this still remained the company’s goal.

“2009 will be a very difficult year. I do not believe that we will be profitable but that still remains our target,” he said.

Last year, Brussels had a net loss of 12 million euros due to higher costs for fuel oil hedging and entry to the Star Alliance airline network.

At 1338 GMT, Lufthansa was up 0.74 percent at 8.89 euros while the DAX30 .GDAX was down 0.13 percent.

Print Friendly, PDF & Email