Lufthansa Board Approves Equity Investment in SN Airholding

German airline Lufthansa has announced that its supervisory board has approved an agreement on a strategic investment in SN Airholding, the parent company of Belgium-based Brussels Airlines.

According to the agreement, Lufthansa will acquire a 45% stake in SN Airholding for a price of E65 million in the first phase. As of 2011, and following the securing of the air traffic rights of Brussels Airlines, Lufthansa will also be able to exercise an option to acquire the remaining 55% in the second phase.

Furthermore, the parties have agreed that Brussels Airlines will be fully integrated into the Lufthansa Group as soon as Lufthansa has acquired the full 100% stake. The agreement is yet to be approved by the competition authorities, and the board of directors and shareholders of SN Airholding.