Lufthansa will not exercise pre-emption right regarding Condor

Tags :Continental Europe, Air Berlin


(CAPA) Air Berlins CEO, Joachim Hunold, announced that Lufthansa will not exercise its pre-emption right with regard to Condor.

 

Mr Hunold stated: "We welcome Lufthansa’s decision not to exercise its pre-emption right with regard to Condor. This means that as far as we are concerned everything is going to plan and as announced. We can take over Condor in two stages: in February 2009 we can buy 75.1% of the airline, and the remaining 24.9% in the following year. This is of course subject to the usual proviso, in other words to approval by the cartel office. After the rapid integration of LTU, we can now prepare our take-over of Condor in peace."

Date posted: 02-Oct-07

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