Lufthansa to buy large parts of bankrupt Air Berlin

13 October, 2017, 00:57 | Author: Martin Tyler
  • Lufthansa to buy large parts of bankrupt Air Berlin

Air Berlin said that Lufthansa would pay 210 million euros for Air Berlin assets, enabling it to repay a 150 million credit from the German federal government that had allowed it to keep flying.

The head of German carrier Lufthansa on Thursday announced that his company was set to take a majority stake in failed airline Air Berlin, which filed for insolvency earlier and was temporarily being kept afloat by a bridging loan from the German government.

The budget Irish airline said it would take the €210m deal to European competition authorities.

Spotify replacing Xbox One's Groove Music Pass
Now Groove Music Pass is shutting down, although its Groove Music app lives on as a way for people to play their owned tracks. Microsoft has announced that it'll be discontinuing Music Pass support in Groove and music purchase in the Windows Store.

Air Berlin declared bankruptcy in August following years of losses and the decision of its biggest shareholder, Gulf airline Etihad, to cease financing.

Air Berlin is one of three European airlines to become insolvent in recent months.

Lufthansa has spread its wings further, clinching a deal to buy up more than half of its bankrupt rival Air Berlin, in what its CEO Carsten Spohr described as "a milestone in the history of Lufthansa and Berlin".

UK Leader Challenge: 'Explain or Change' Race Disparity
The prime minister will launch a website later containing the data, compiled from across the United Kingdom government . Mrs May said the audit would become an " essential resource in the battle to defeat ethnic injustice ".

Britain's EasyJet is reportedly still in negotiations to buy some of the Air Berlin planes that haven't been snapped up by Lufthansa.

A person who is familiar with the ongoing situation said Wednesday that Lufthansa, the largest airline in Germany, was going to acquire the Niki, the Austrian leisure travel line of Air Berlin, its regional airline LG Walter, and also some other aircraft that were short-haul.

Shares in Lufthansa rose 2.8% in Frankfurt. It made a loss of about 782 million euros a year ago.

'Only Maradona fans want Messi to miss World Cup'
In addition, a Brazil victory against Chile could aid Argentina in possibly grabbing an automatic qualification spot. Colombia has the same 26 points but there is a little goal difference and so, they are one step behind than Chile.

Air Berlin, the second largest carrier in Germany, will end all operation of its flights during October, capping a tumultuous summer for carriers in Europe.

Recommended:

  • Equifax failed to patch security vulnerability in March -former CEO

    Equifax failed to patch security vulnerability in March -former CEO

    Smith said this particular sale opened after the second quarter earnings call and was in line with normal behavior. The company previously said that around 400,000 United Kingdom consumers may have been caught up in the breach.

    Google Pixel 2's camera is exceptional proves official camera samples

    Google has spent years on the Nexus program showing the Android family how its software is supposed to run on phones and tablets. You get a USB-C to 3.5mm adapter in the box, but if you lose it, a new one will cost you $20 (double what Apples adapters cost).
    Black woman turning white: Dove apologizes for racially insensitive ad

    Black woman turning white: Dove apologizes for racially insensitive ad

    In 2011, Dove released an ad that lined women up based on their skin tone with "before" and "after" above each person. The ad quickly received negative perception from the public, with many describing the ad as racist and whitewashing.
  • Assassin's Creed Origins has undead mummy DLC

    Assassin's Creed Origins has undead mummy DLC

    Discovery Tour - This new game mode turns the world of Assassin's Creed Origins into a combat-free living museum. After that, in March 2018, Ubisoft will release " The Curse of the Pharaohs " which looks suitably weird.
    LaVar Ball just pulled LaMelo Ball out of high school

    LaVar Ball just pulled LaMelo Ball out of high school

    LaVar has grabbed attention over the past year with exaggerated claims and headline-grabbing antics. Looks like LaMelo Ball's formal HS career may have come to an end.
    Sen. Tim Kaine visits Puerto Rico to survey hurricane damage

    Sen. Tim Kaine visits Puerto Rico to survey hurricane damage

    Trump defended himself after taking criticism for tossing paper towels while visiting hurricane-ravaged Puerto Rico on Tuesday. Rossello spoke with CNN on Monday, saying that 65 to 70 percent of drinking water has been restored to the island.
  • Defence responds to cyber attack incident

    The report mentions that the Australian Signals Directorate (ASD) had named the advanced persistent threat (APT) as "Alf". Data on the F-35 Joint Strike Fighter , P-8 Poseidon surveillance aircraft and C-130 transport plane was stolen.
    Turkey tries different measures to free Crimean Tatars jailed by Russia - Erdogan

    Turkey tries different measures to free Crimean Tatars jailed by Russia - Erdogan

    Turkish President Recep Tayyip Erdogan is continuing a visit to Serbia with a visit to Sandzak, a mainly Muslim-populated region. Turkey backed Bosnian Muslims in the 1990s war that pitted them against the Christian Orthodox Serbs and Catholic Croats.
    ESPN suspends Jemele Hill over National Football League  comments

    ESPN suspends Jemele Hill over National Football League comments

    A few days later, network President John Skipper issued a memo telling employees to avoid "inflammatory" comments on social media. White House press secretary Sarah Huckabee Sanders responded to Hill's tweet about Trump by calling it "a fireable offense".
  • Russians were gaming Google for Trump

    Russians were gaming Google for Trump

    Twitter has not said how many times the Russian disinformation was shared. Google's probe is in its early stages, WP's sources said. Facebook has also declined to make the ads public.
    Nathan Lane says Harvey Weinstein attacked him at Hillary Clinton's birthday

    Nathan Lane says Harvey Weinstein attacked him at Hillary Clinton's birthday

    Cory Booker of New Jersey and Kamala Harris of California, have said they are giving that money to charities helping women. Representatives for the Clintons have not responded to comment for this story, and Obama's office declined to comment.

    Google Reportedly Finds Politically Motivated Russia-backed Ads On Its Platform

    Google and Facebook are the biggest online advertising companies in the world, and they helped pioneer targeted advertising. Facebook has said those ads reached just 10 million of the 210 million USA users that log onto the service each month.


Popular

Projection for Tom Brady
Yet on Thursday, both the quarterback and the star tight end were back on the practice field - albeit in a limited capacity. The Jets say that stat is misleading, though, and they have pressured quarterbacks even if they have not sacked them.

LIBERIA POLLS: Ex-footballer George Weah in early lead
A run-off vote will be scheduled in November if none of the 20 candidates garners a 50 percent majority. About 2.2 million Liberians, slightly less than half of the country's population, registered to vote.

Trump attacks NFL, Corker in Twitter barrage
A public feud between President Donald Trump and influential fellow Republican Bob Corker could narrow the path for a tax overhaul in the U.S.

Cowboys players won't test Jerry Jones' anthem policy, report says
Next week, the NFL owners will discuss whether to change the written guidelines and require players to stand for the national anthem.

Encounter at Hajin, J&K: Security forces on job says cops
The hiding militants triggered the encounter firing at the security forces approaching the house. The militants are believed to be behind the killing of BSF constable Ramzan Parray.

Top Stars Missing 2018 FIFA World Cup XI
Kelechi Iheanacho celebrates with his Nigerian team mates after their qualification to the 2018 World Cup in Russian Federation . Iran , three-times Asian champions, finished first in their qualifying group for the World Cup.

Supreme Court dismisses case against Trump's expired travel ban
Unlike the other bans, it treats some countries and types of travelers, such as students or tourists, differently than others. An individual case from the 9 Circuit in California was pending because it includes a ban on refugees worldwide.

Khloé Kardashian pregnant, she looks for the ideal home with Tristan Thompson
It flairs out at the bottom. "It's just the way the shirt is designed", Kardahian shared in the caption next to the picture. The pictures show Khloe posing in a plunging black leather top and matching mini-skirt which shows off her famous curves.

Kenya: Odinga withdraws from election re-run
Opposition leader Raila Odinga and his supporters have turned their ire on the election board for its role in the canceled poll. He has singled out the Independent Electoral and Boundaries Commission (IEBC) for particular criticism, deeming it "rotten".

Saudi Arabia set to curb attempts to finance terrorism
The king has been visiting Russian President Vladimir Putin in talks over oil and Syria, Saudi's al Arabiya television reported . Saudi Arabia is a longstanding US ally in the Middle East and its arms deals with Moscow have caused disquiet in Washington.