Lufthansa To Acquire A 24.9 Per Cent Stake In Eurowings

Improved air services for North Rhine-Westphalia
Lufthansa German Airlines will take out a 24.9 per cent stake in the equity capital of Eurowings Luftverkehrs AG with effect from 1 January 2001.
The agreement between Lufthansa and Eurowings is subject to approval by the Lufthansa Supervisory Board on 6 December 2000. Lufthansa CEO and Chairman Jürgen Weber informed the Supervisory Board on 20 September of the plans.
“The equity shareholding in Eurowings will enable us to strengthen our position in the air traffic market in North Rhine-Westphalia,” said Jürgen Weber. “This market is hotly contested. The cooperation agreement will permit more non-stop flights into Europe«s business centres, and allow Eurowings to expand its programme on domestic routes in Germany.”

Eurowings will remain an independent airline with its own distinct brand image. Lufthansa and Eurowings plan to start cooperating more closely in European scheduled traffic in the course of next year. Eurowings will also be a member of Miles & More and thus become the 28th partner airline to participate in Lufthansa`s frequent flyer programme.

If no objections are raised by the anti-trust authorities, Lufthansa plans to increase its Shareholding in Eurowings.