Lufthansa to take over Brussels Airlines

BRUSSELS: German carrier Lufthansa will acquire full control of Brussels Airlines, the two companies said Monday after talks with SN Airholding of Belgium.

Luthansa said in a joint statement it would initially take a 45 per cent stake in SN Airholding for 65 million euros (96 million dollars) as part of a capital increase by the Belgian group.

The German airline will have an option to buy the outstanding shares from 2011 for a price of not more than 250 million euros, the statement said.

Brussels Airlines is an offshoot of the bankrupt state-owned carrier Sabena and one of the few European airlines that does not belong to a major alliance. It is owned by around 40 shareholders, including the Virgin Group and several Belgian enterprises.