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Lufthansa buys stake in Belgian airline

16 September 2008

Deutsche Lufthansa, the second-largest European airline, agreed to buy 45 percent of SN Brussels Airlines for €65 million as the pace of consolidation in the industry accelerates.

Europe’s largest carriers are vying to buy smaller competitors to expand networks and cut costs amid slowing economic growth and surging fuel bills. Lufthansa has also been linked with bids for Austrian Airlines Group, Scandinavian carrier SAS Group and BMI of Britain. Air France-KLM is the largest European carrier.

source: IHT

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