Lufthansa Prepares to Buy Parts of Air Berlin in $1.8 Billion Deal

Lufthansa Prepares to Buy Parts of Air Berlin in $1.8 Billion Deal

Lufthansa Prepares to Buy Parts of Air Berlin in $1.8 Billion Deal

"Today will be a milestone in the history of Lufthansa and Air Berlin", said Spohr in Berlin ahead of an expected official announcement that a formal deal has been agreed between the airlines.

Lufthansa will sign a deal on Thursday to buy parts of its insolvent smaller German rival Air Berlin, Lufthansa's chief executive Carsten Spohr said.

While it conducted the negotiations, Air Berlin's planes were kept in the air by a government loan of 150 million euros.

A huge hole has opened up in Antarctic ice pack, reason unknown
Actually, this type of phenomena can be termed as polynya- an area of open water completely enclosed by sea ice. A more thorough and prolonged research would reveal the real reason behind the huge hole.

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".

Germany's largest airline is expected to buy Air Berlin's low-priced leisure airline Niki, its LG Walter regional airline as well as more than half of Air Berlin's A320 fleet.

The operations in the deal would also include access to take-off and landing slots at Air Berlin's hubs in Tegel in the German capital and Duesseldorf. It made a loss of about 782 million euros a year ago.

Oculus Go VR Headset Introduced By Oculus From $199
Oculus Connect 4 also offered another peek at Project Santa Cruz, the ambitious next step of PC VR sporting an untethered headset. Facebook VP of VR Hugo Barra in his own words, describes it as "hands-down the easiest way to get people into VR", per Variety .

A Lufthansa spokesman declined to provide further details because the agreement had not yet been signed. A person familiar with the matter said that Zeitfracht's new bid was made jointly with maintenance group Nayak and its owners.

Spohr has suggested that Lufthansa will purchase 81 of Air Berlin's 144 planes, as well as taking on around 3,000 of the company's staff.

Italian flag carrier Alitalia is in administration and seeking investors too, British leisure airline Monarch collapsed at the start of this month, stranding thousands overseas, and low cost Ryanair has cancelled thousands of flights after a pilot rostering mess-up.

Ashish Nehra Announces Retirement From International Cricket, Twitterati Recall His Best Spells
I can play for another couple of years but it isn't easy for a fast bowler at 38-39, especially considering the state of my body. He then played for the Delhi Daredevils, the Chennai Super Kings and the Sunrisers Hyderabad in subsequent editions.

Related news