Following procedure, Lufthansa (LH) formally notified the European Union (EU) of its proposed acquisition of the Austrian Airlines Group (AAG). Lufthansa had made a public offering to purchase AAG but made as a condition that 75% of the airline’s permanent voting shares. By the time the LH deadline was reached, an estimated 85% of the shares had been offered for sale. Approval of the EU Commission is necessary for the deal to be consummated.
A member of Star Alliance, AAG’s routes include coverage of Eastern Europe and the Middle East. Its headquarters are in Vienna.
The Commission has approved another LH acquisition. This one of bmi (operating as British Midlands). The airline operates weekly 2,000 flights out of London Heathrow, where it has 11% of all take off and landing slots. It flies to destinations in Europe, North America, the Caribbean, the Middle East, Africa and Central Asia. According to reports, the deal is not a done deed as not all contractual conditions have been met.