Lufthansa to take full control of Brussels Airlines

Lufthansa Group’s board decided on 28 September to exercise its call option to acquire the remaining 55% of the shares in SN Airholding, the parent of Brussels Airlines. Lufthansa Group acquired 45% of the shares in SN Airholding in 2009, and has had the option to acquire the rest, but repeatedly delayed a decision. Under a formula agreed in 2009, Lufthansa will pay EUR2.6 million for the remaining shares, and forgive the outstanding balance of EUR45 million on the EUR65 million loan it provided. The amount is controversial, however, as the price would have been substantially higher had the loan been repaid earlier. Brussels had been prepared to do so in 2015, but the Lufthansa representatives on SN Airholding’s board urged it not to. Brussels Airlines operates eight Avro RJ100s, but is scheduled to withdraw them all by the end of 2017. Four have already left the fleet: OO-DWF (msn E3332) in April, OO-DWG (msn E3336) in July, and OO-DWH (msn E3340) in August. OO-DWI (msn E3342) was the latest to be withdrawn. She operated her last service, SN2050 from Birmingham to Bruxelles, on 26 September, and is now parked at Bruxelles awaiting her return to Falko Regional Aircraft.

Recent news items on Brussels Airlines:

Leave a comment

Your email address will not be published. Required fields are marked *