Lufthansa Acquires Big Part of Air Berlin

Lufthansa will sign a contract to buy big part of the property of the bankrupt Air Berlin. Lufthansa spokesman Karsten Spor announced that the contract will be confided to notary in Berlin at 12am local time.

Air Berlin announced insolvency in mid-August, operating since then with a EUR 150 million state credit.

Lufthansa is expected to acquire 81 aircrafts from Air Berlin, employ 3,000 workers, with an amount of EUR 1.5 billion to be invested. The news of the deal led to a 3% increase in Lufthansa's stock, as the exchange rate reached EUR 25.36 per share, the highest level since the beginning of 2001