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Lufthansa plans to acquire SAS
German airline Lufthansa may announce takeover plans for SAS as early as the first half of 2011, a person with knowledge of the discussions told Bloomberg News.
Cologne-based Lufthansa is in talks with the governments of Sweden, Denmark and Norway, which own half of the unprofitable Stockholm-based carrier.
The potential acquisition would strengthen Lufthansa’s central-European dominance, the person said. It would also offer shorter polar flights from Scandinavia to Canada and northern United States.
A Lufthansa spokesman didn’t want to comment on its acquisition plans.
SAS posted a net loss of 1.1 billion kronor ($164 million) for the third quarter, mainly due to one-time charges including a 660 million kronor price-fixing fine by the European Union.
Last Updated (Thursday, 23 December 2010 10:33)