Air Berlin filed for insolvency in August, after racking up losses of over £710m last year despite a major overhaul.
FRANKFURT (Reuters) - Lufthansa agreed to buy parts of insolvent German airline Air Berlin for around 210 million euros ($248.72 million), Air Berlin said on Thursday.
FRANKFURT/BERLIN (Reuters) - Lufthansa reinforced its position as Germany's largest airline on Thursday by signing a 210 million euro ($249 million)deal to buy large parts of insolvent Air Berlin .
The German news agency dpa is reporting that Lufthansa CEO Carsten Spohr says the airline will sign an agreement to buy large parts of the bankrupt carrier Air Berlin.
The German flag carrier said it would to take over 81 aircraft and hire 3,000 people from the budget airline, which had filed for insolvency in August.