Rickster
Topic Author
Posts: 648
Joined: Tue Dec 19, 2000 10:47 pm

Lufthansa/Eurowings Merger?

Mon Sep 24, 2001 9:54 pm

Are Lufthansa and Eurowings going to merge now?
Regards Rickster
 
jwenting
Posts: 9973
Joined: Mon Apr 23, 2001 10:12 pm

RE: Lufthansa/Eurowings Merger?

Mon Sep 24, 2001 10:01 pm

the merger was banned last year because it would curb competition.
I wish I were flying
 
9V-SPF
Posts: 1340
Joined: Fri Sep 14, 2001 6:42 pm

RE: Lufthansa/Eurowings Merger?

Mon Sep 24, 2001 10:27 pm

According to an information of the german news-magazine "Der Spiegel", the merger has been allowed by the "Bundeskartellamt", which has to permit mergers like this one, today.
You can read the article if you follow this link:

http://www.spiegel.de/wirtschaft/0,1518,159064,00.html

Unfortunately the article is in german language only.
 
johnnybgoode
Posts: 2144
Joined: Wed Jan 03, 2001 8:47 pm

RE: Lufthansa/Eurowings Merger?

Tue Sep 25, 2001 12:47 am

well, actually it´s not a merger, i believe LH holds only 24.9%. however, i´m not sure if these concessions made by LH and EW are to grant the codeshare arrangement on inner-german routes (still keeping up a certain amount of competetion in germany) or if it´s mainly about allowing LH to eventually take about 50% of EW... does someone has info on that?

EAE - European Air Express will take over some routes from Eurowings, f.e. MUC-DTM.
the "bundeskartellamt" has ordered LH and EW to freeze capacity and number of flights on some domestic routes and to give up some slots when requested by new entrants.
although this is from a quite reliable magazine, i don´t believe that LH is forced to open-up its miles&more programme to all german competitors, that would also mean to Deutsche BA. and if that was case, i think we would have heard of that.

rgds
daniel
If only pure sweetness was offered, why's this bitter taste left in my mouth.
 
Rickster
Topic Author
Posts: 648
Joined: Tue Dec 19, 2000 10:47 pm

RE: Lufthansa/Eurowings Merger?

Tue Sep 25, 2001 3:44 pm

Thanks for the info
regards Rickster
 
johnnybgoode
Posts: 2144
Joined: Wed Jan 03, 2001 8:47 pm

RE: Lufthansa/Eurowings Merger?

Wed Sep 26, 2001 1:00 am

according to Lufthansa´s homepage:

09/24/2001
Federal Cartels Office gives go-ahead for Lufthansa shareholding in Eurowings

Approval linked with conditions

The Federal Cartels Office has today given the go-ahead for Lufthansa to acquire a 49 per cent stake in Eurowings Luftverkehrs AG.
Lufthansa welcomes the decision not to block the collaboration between the two airlines. However, the regulatory body has imposed a series of conditions. Since these still require closer financial and legal evaluation, Lufthansa is unable to comment on them at present.
On 1 January 2001 Lufthansa took out a 24.9 per cent stake in Eurowings. It additionally has an option, which can be exercised at the earliest in winter 2003/2004, to buy a further 24.1 per cent of the airline's shares. The full transaction has been pending approval by the Federal Cartels Office since November 2000. Lufthansa and Eurowings have been cooperating since the beginning of the summer schedule (March 2001) on a total of 39 domestic German and intra-European routes.

---

rgds
daniel
If only pure sweetness was offered, why's this bitter taste left in my mouth.