Published: Thu, September 29, 2016
Economy | By Melissa Porter

Germany's Air Berlin to shed 75 aircraft, 1200 jobs

Germany's Air Berlin to shed 75 aircraft, 1200 jobs

Lufthansa, Germany's largest airline, has multiple subsidiaries, including Germanwings, Eurowings, Swiss and Austrian Airlines.

The airline said Wednesday that it would reduce its fleet of 144 planes by 75 as it concentrates on flights originating from Berlin and Duesseldorf.

Lufthansa bought 45 percent of Brussels Airlines owner SN Airholding in 2009 for 65 million euros ($73 million), with an option to acquire the rest from 2011.

"Lufthansa said earlier this year it was discussing how to bring Brussels, which has a fleet of 49 planes, into its Eurowings low-priced platform, which now has around 90 planes", Reuters writes.

Shareholdrs in Brussels Airlines have to agree to the deal.

Belgian media have reported that due to a technicality, Lufthansa could snap up the remainder of the airline for as little as 2.6 million euros - because Brussels Airlines still owes the German carrier an outstanding debt of 45 million euros.

Brussels Airlines said in a statement it was in talks with Lufthansa to receive assurances that key operations would remain in Belgium.

The transaction, is expected to be concluded at the beginning of 2017 after it has held discussions with SN Airholding shareholders, Lufthansa said.

Brussels airlines suffered a major setback with the March terrorist attacks in the Belgian capital, which included an attack on its Brussels Airport hub, shuttering the facility for days.

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