On October 12, 2017, Lufthansa Group struck a deal with Air Berlin to take over a significant portion of its operations. Air Berlin announced that Lufthansa, the largest airline in Germany, would buy several of its business units for 210 million euros, which is roughly $249 million.
The deal still needs regulatory approval, and the final price might be adjusted when everything is finalized. Under this agreement, Lufthansa will acquire 81 planes and plans to hire 3,000 out of Air Berlin’s 8,000 employees as part of a broader investment totaling 1.5 billion euros.
Meanwhile, Air Berlin is also in talks with the budget airline easyJet and other potential buyers for the remaining parts of its business. The last Air Berlin flight is scheduled to fly from Munich to Berlin on October 27th.