Lufthansa Takes Over Swiss For Up To EUR300 Million

The supervisory boards of Lufthansa and Swiss International Air Lines, as well as the Swiss government, yesterday approved the takeover of the Swiss carrier by Lufthansa.

The deal, which will be implemented in several steps, will involve a newly formed Swiss company, ensuring that the carrier will not lose its international traffic rights as a result of the transaction. Lufthansa will pay up to EUR300 million for the carrier, depending on the share performance in the next few years.