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Lufthansa says to take over Brussels Airlines
December 15, 2016 / 9:45 AM / a year ago

Lufthansa says to take over Brussels Airlines

BERLIN, Dec 15 (Reuters) - Lufthansa said on Thursday it is fully taking over Brussels Airlines, with plans to integrate the Belgian carrier’s short-haul routes into the Eurowings budget unit.

Lufthansa is paying 2.6 million euros ($2.7 million) to exercise a call option for the remaining 55 percent of Brussels Airlines that it does not already own, it said in a statement.

Bringing Brussels Airlines into the Lufthansa Group will bring benefits of a medium double-digit million euro amount per year, although integration costs may weigh on earnings in the short term, it added.

The Belgian carrier will continue to operate its long-haul routes to Africa.

$1 = 0.9521 euros Reporting by Victoria Bryan; Editing by Maria Sheahan

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