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Germany’s Federal Cartel Office approves Air Berlin takeover

9-Sep-2009 9:58 AM

Air Berlin and TUI Travel welcomed (02-Sep-2009) the decision by the German Federal Cartel Office permitting Air Berlin to take over the city flights network of Hapag-Lloyd Fluggesellschaft (TUIfly), from the 2009/10 Northern Winter Schedule. At the end of Mar-2009, TUI and Air Berlin submitted the takeover deal to the Cartel Office, as well as a 19.9% cross-shareholding arrangement between the two airlines. The cross-holding originally planned will now not be implemented. TUI's acquisition of a 9.9% stake in Air Berlin or whether a company belonging to the TUI Travel Group will pay EUR15 million to Air Berlin depends on the outcome of further talks with the Cartel Office. In recent weeks, the cartel authorities in Italy, Austria and Portugal agreed to the Air Berlin takeover of TUIfly’s inter-city flights. The agreement is still awaiting approval of the Spanish cartel office. [more]