Remaining 55% of SN Airholding to be acquired through exercise of call option – transaction to be concluded beginning of 2017
The Supervisory Board of Deutsche Lufthansa AG approved the exercising of a call option to acquire the remaining 55% of shares in SN Airholding, the parent company of Brussels Airlines, at its meeting today. The approval paves the way for Lufthansa’s full acquisition of Brussels Airlines.
It remains the common objective of Lufthansa and Brussels Airlines to conduct the full acquisition of SN Airholding by Deutsche Lufthansa AG after the final agreement on the modalities of the exercise of the call option with the SN Airholding shareholders by the end of this year, and to conclude the transaction at the beginning of 2017.
Deutsche Lufthansa AG, Lufthansa Group Media Relations 28.09.16
The identity of Brussels Airlines retained
The press release doesn’t say anything about the plans of the Germans for Brussels Airlines within the Lufthansa Group. Brussels Airlines will probably maintain its identity. “The ongoing discussions between Lufthansa and Brussels Airlines aim to preserve the individuality of Brussels Airlines, as well as to ensure the growth of business and employment in Belgium“, Brussels Airlines announced in a first reaction.
“These specific characteristics include the business model based on 1°) the “point-to-point” passenger traffic and 2°) on transit traffic and on the African and intercontinental network that contributes to the development of Brussels Airlines’ hub in Brussels. The modalities around the management of Brussels Airlines in 2017 are still on the agenda. A decision center in Brussels is required to manage the different operations. The brand of the airline continues to be Brussels Airlines.”