Ryanair to challenge Lufthansa's Air Berlin deal

According to The Telegraph bankrupt airline carrier Air Berlin will end service on all its routes no later than October 28

Lufthansa will pay around €210 million ($248 million) to buy 81 of Air Berlin's planes and take on 3,000 of its 8,500 employees, as well as take over Air Berlin's Austrian leisure travel airline Niki, and regional airline LG Walter.

Lufthansa would be interested if there was an opportunity to create a new Alitalia, the German flagship carrier's Chief Executive Carsten Spohr said on Thursday.

"Today is a big day, which we will seal in a few hours with a signature", Spohr said.

A Lufthansa spokesman declined to provide further details because the agreement had not yet been signed.

While Air Berlin officials have been in negotiations for weeks with Lufthansa and easyJet about selling parts of the business, the airline dealt with years of financial losses before its biggest shareholder, Gulf carrier Etihad, stopped financing the company.

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Lufthansa has agreed to purchase portions of insolvent German airline group Air Berlin for $249 million.

Britain's easyJet has a base in Schoenefeld airport in Berlin and has been negotiating the acquisition of between 27 and 30 aircraft, though one report earlier in the week said those talks might fail. He also told the Rheinische Post newspaper that Lufthansa would invest up to 1.5 billion euros into Air Berlin as part of its takeover of the assets.

Analysts in London lifted the target price for shares of Lufthansa to €29 from their previous €25, citing the soon to be signed deal to acquire much of Air Berlin, a new labor deal that was multi-year with its pilots that it announced earlier this week, and a strong trading performance for 2017.

The statement, sales process, Committee on creditors, institutions responsible for bankruptcy process in Germany and approval of European competition institutions were transferred.

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