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Author Topic: Air Berlin steps up its expansion  (Read 1488 times)

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Offline casper

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Air Berlin steps up its expansion
« on: March 27, 2007, 10:55:08 AM »
German airline Air Berlin has said it will buy charter rival LTU for 140m euros ($187m; £95m).
In a separate deal, Air Berlin also said it was buying a 49% stake in the Swiss operator Belair Airlines.

Following the deals, Air Berlin will be the fourth-biggest airline in terms of European traffic, behind Ryanair, Air France/KLM and Lufthansa.

Air Berlin has been buying rivals after first selling shares to investors in May 2006 to raise money for expansion.

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