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28-Apr-2016 9:04 AM

Deutsche Lufthansa AG postpones decision regarding acquisition of SN Airholding

Deutsche Lufthansa AG informed (27-Apr-2016) its Supervisory Board at its meeting on 27-Apr-2016 that Lufthansa and Brussels Airlines have agreed to extend by a further three months the deadline for Lufthansa to decide on the call option to fully acquire Brussels Airlines' parent company SN Airholding. Under their existing agreement, Lufthansa was required to take this decision, through which it could acquire the remaining 55% of SN Airholding, by the beginning of Jun-2016. This deadline has now been extended to the end of Aug-2016. The call option could be exercised not before Sep-2016. The option has been extended in the wake of the terrorist attacks at Brussels Airport on 22-Mar-2016 and their repercussions.Deutsche Lufthansa AG Executive Board chairman and CEO Carsten Spohr said, "Our colleagues at Brussels Airlines are currently devoting all their energies and resources to restoring reliable flight operations for their customers at their home airport following these terrible attacks. That is a major challenge under the current security provisions, and must now be the priority. And in view of this, we have agreed with Brussels Airlines to give ourselves a further three months to conclude our negotiations on the acquisition terms and devise the migration concept required". [more - original PR]

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