Lufthansa Set to Buy Parts of Air Berlin

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Lufthansa is poised to agree a deal to buy assets from insolvent Air Berlin, a person familiar with the matter told Reuters, ahead of a deadline on Thursday, Reuters reported. Germany’s largest airline is set to buy Air Berlin’s Niki leisure unit, its LG Walter regional airline and some additional short-haul aircraft, the source said on Wednesday. “The deal with Lufthansa is done, there is agreement,” the person said, adding that no contract had been signed yet. Lufthansa declined to say whether it was set to sign a deal, saying only it was confident it would meet the deadline for negotiations. Air Berlin, which has struggled to turn a profit over the last decade, filed for insolvency on Aug. 15, and a government loan has kept its planes in the air while it negotiates with potential buyers over parts of its business. Read more.