Lufthansa completes Austrian acquisition

By Administrator |

Lufthansa announced yesterday that it has secured more than 90% of all shares in Austrian Airlines (AUA) which it now claims makes it the biggest airline in Europe.

The airline said that all remaining shareholders now have until September 9 to accept Lufthansa's E.4.49 ($6.40) per share takeover offer.

This is the latest in a string of acquisitions by Lufthansa, with its recent acquisition of Brussels Airlines and the purchase of a majority stake in Britain's bmi. The airline says that altogether this brings its passenger numbers to around 100m a year.

At a press conference in Vienna yesterday, Lufthansa Ceo Wolfgang Mayrhuber confirmed that AUA is still losing money, but the new parent company aims to make it cash positive by 2010.

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