Brussels Airlines (SN, Brussels National) and Lufthansa (LH, Frankfurt Int'l) have agreed to extend by a further three months the deadline for Lufthansa to decide on the call option to fully acquire Brussels Airlines’ parent company SN Airholding.
In a statement, the German carrier said the postponement had been brought on by the recent terrorist attacks at Brussels National Airport and their repercussions.
“Our colleagues at Brussels Airlines are currently devoting all their energies and resources to restoring reliable flight operations for their customers at their home airport following these terrible attacks,” Carsten Spohr, Chairman of the Executive Board & CEO of Deutsche Lufthansa AG, said. “That is a major challenge under the current security provisions, and must now be the priority. And in view of this, we have agreed with Brussels Airlines to give ourselves a further three months to conclude our negotiations on the acquisition terms and devise the migration concept required.”
Under their existing agreement, Lufthansa has the option of acquiring the remaining 55% stake in SN Airholding N.V./S.A. A decision was to have been taken by the beginning of June but the deadline has now been extended to the end of August. The call option cannot therefore be exercised before September 2016.
Lufthansa and Brussels Airlines have been working on migration concept into the Eurowings Group in the event the Belgian airline is fully acquired.
(culled from www.ch-aviation.com)
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