A PYMNTS Company

Germany: Lufthansa bids €200m for Air Berlin

By  |  September 24, 2017

On Sunday, September 24, German newspaper Bild am Sonntag reported that Lufthansa has bid €200 million (US$239 million) to buy assets from the insolvent airline Air Berlin.

An anonymous source reported to Reuters on Sunday, that the numbers reported by the newspaper released are approximately correct.

Air Berlin filed for insolvency last month and the government granted the airline a €150 million (US$178.8 million) bridging loan to keep the company operating for three months.

Lufthansa was reported to also be offering €100 million (US$119.2 million) to meet operating costs.

The transaction will need to be approved by both EU and German regulators and could take up to three months to close after a purchase agreement has been signed.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.