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    Lufthansa’s acquisition of Brussels Airlines takes off

    © Belga
    Lufthansa is banking on success in its acquisition of Brussels Airlines.
    © Belga

    Lufthansa has contracted with Brussels Airlines, landing itself with an obligation to invest 600 million euros in the Belgian company. This is for renewal of Brussels Airlines’ fleet of long-haul carriers.

    This is reported in Le Soir today (Thursday).

    The agreement revolves around recording on the group’s balance sheet, the cost of leasing seven aeroplanes for a 20-year period.

    However, this commitment is more of a moral obligation than a legal one. Lufthansa made the deal official today (Thursday), taking control of 100% of Brussels Airlines.

    The German group will thus have no accountability obligation to former Belgian shareholders of the company.

    Oscar Schneider
    The Brussels Times