Lufthansa is set to sign a deal to purchase some assets of smaller rival Air Berlin, after the latter went bankrupt.
Carsten Spohr, chief executive of Lufthansa air, who revealed this on Thursday, said that the Frankfurt-based carrier, will sign a contract to buy 81 of Air Berlin's 144 planes and take on 3,000 of its 8,500 staff.
"Today is a big day, which we will seal in a few hours with a signature", he said.
Air Berlin triggered bankruptcy proceedings in August after losing a cash lifeline from its biggest shareholder Etihad Airways. He added he expected the European Union to approve the deal by the end of the year.Читайте также: 'Legends Of Tomorrow': Victor Garber To Exit CW Series This Season
HSBC analysts lifted their target share price to €29 from €25, citing the imminent agreement with Air Berlin, a new multi-year labour deal with pilots announced this week and a positive trading performance this year. Meanwhile, analysts at Bernstein Research raised their rating on Lufthansa's shares to "outperform" from "market-perform", forecasting the deal with Air Berlin will add between €70m to €90m to annual operating profits at Lufthansa's low-priced subsidiary Eurowings in the medium term.
Negotiations with Britain's easyJet and other bidders for other parts of the business are ongoing, Air Berlin said.
In 2016, Air Berlin showed a record 782 million euros in losses - a 75 per cent increase compared to 2015 - which the company attributed to restructuring costs and depreciation. It made a loss of about 782 million euros a year ago.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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