Lufthansa takes over 100% of Brussels Airlines to be fully integrated into the Lufthansa Group

Deutsche Lufthansa AG takes over 100% of Brussels Airlines to be fully integrated into the Lufthansa Group as of 2018 and joining the Eurowings Group. Attractive home markets Belgium and Brussels and well-established Africa network will further strengthen the Lufthansa and Eurowings Group market position. Advantageous cost-structure allowing Brussels Airlines to successfully compete with the tough low-cost competition in the Belgian market. After Lufthansa and the shareholders of SN Airholding had agreed on the terms of the complete takeover, Deutsche Lufthansa AG’s Executive Board decided to exercise the call option for the outstanding 55% of the shares. The call option comes into effect by December 31, 2016. The closing of the transaction will happen by the beginning of January 2017. The price mechanism for the take-over of the remaining 55% of the shares had already been part of the agreement for the call option in 2008. The price for the acquisition of the remaining 55% of the shares is €2.6m, which will be paid to a consortium of 30 shareholders.