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Lufthansa to sign deal with bankrupt Air Berlin

Lufthansa to sign deal with bankrupt Air Berlin

Spohr said, "We will see a milestone in the history of Lufthansa and Berlin today".

The German flag carrier Lufthansa said it expected to sign an agreement on Thursday to buy parts of Air Berlin, a low-priced carrier that filed for insolvency this summer.

Air Berlin declared bankruptcy in August following years of losses and the decision of its biggest shareholder, Gulf airline Etihad, to cease financing.

Germany's largest airline is set to buy Air Berlin's Niki leisure unit, its LG Walter regional airline and some additional short-haul aircraft, the source said on Wednesday.

Negotiations for the sale of Air Berlin's assets, thought to include just under 150 leased aircraft as well as several sought-after landing and takeoff slots at German airports, have been ongoing for the past month.

Panneerselvam to meet Prime Minister Narendra Modi tomorrow
Modi said it was imperative that correct guidelines flow down from above and correct information flows up from below. He did pioneering work towards poverty alleviation, rural health, rural education and took forward the legacy of Pt.

Lufthansa declined to say whether it was set to sign a deal, saying only it was confident it would meet the deadline for negotiations.

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. He said he was "stunned" by suggestions the co-pilot deliberately crashed the plane.

Earlier this week, Air Berlin announced it will stop flying at the end of October, telling employees that flights operating under its airline code "will no longer be possible after October 28 at the latest".

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.


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