Lufthansa Expands Eurowings With Brussels Air Takeover

December 15, 2016

Lufthansa will exercise an option to acquire the 55 percent of Brussels Airlines it does not own, to take full control of the Belgian carrier.

The cost of the acquisition is EUR€2.6 million and will complete in early January 2017, Lufthansa said.

Brussels Airlines’ 23 long-haul and 79 European destinations will operate under the Eurowings banner, Lufthansa’s push into the low cost market to counter stiff competition from the likes of Ryanair and easyJet.

The Belgian carrier’s Airbus A320s and A330s will be folded into Lufthansa Group’s fleet, bringing its total fleet size to almost 700 aircraft. In addition to the Brussels acquisition, Lufthansa also owns Austrian Airlines, Eurowings and Swiss International Air Lines.

“We want to further sustainably strengthen the important aviation location of Brussels and continue to improve the connectivity of the European Capital,” Lufthansa chief executive Carsten Spohr said.

“Based on its successful development, Brussels Airlines is able to play a leading role in bringing our pan-European point-to-point offer under the brand of the Eurowings Group to new successful heights,” he added.

Brussels Airlines carried 7.5 million passengers in 2015 and made an operating profit of EUR€43.4 million for the full year.

(Airwise)