Lufthansa set to sign the Air Berlin deal

Reuters

Lufthansa is set to sign an agreement to buy parts of Air Berlin, the failure of the German carrier.

Germany is the second largest carrier filed for bankruptcy in August, after its main shareholder, Etihad airways, said that he would not give further financial support.

The thefts have continued after a transition loan of 150 million euros by the German government.

The airline has since been negotiating with potential buyers for parts of its business.

He said last month that negotiations with Lufthansa and EasyJet could continue until Friday.

“We’re going to see a milestone in the history of Lufthansa and Air Berlin today,” the ceo of Lufthansa, Carsten Spohr has told Rheinische Post.

Lufthansa, Germany’s biggest airline, is set to buy the Air Berlin Niki’s entertainment unit, LG Walter regional airline and a few other short-haul, according to Reuters.

Mr. Spohr said he expected the imminence of the Air Berlin deal to receive Eu approval by the end of the year, enabling operations to stabilise in a period of approximately six to nine months.

Shares of Lufthansa rose more than 3% above the Germany of the Dax index after the chief executive officer and the comments and optimistic notes from analysts.

Air Berlin, the debt accumulated during almost a decade, posted a record loss of €782m (£713m) for the last year.