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Source: AirBerlin.com
LTU could become part of this deal as well. Doesn't take much to know that Lufthansa will be not too happy of this news.
Frankfurt, 17th August – Air Berlin PLC has acquired 100 per cent of the shares in dba Luftfahrtgesellschaft Munich. "Acquiring our dream partner was an opportunity not to be missed," commented Joachim Hunold, the company’s chief executive office, in Frankfurt on Thursday. At the same time he presented the financial figures for the second quarter of 2006, according to which Air Berlin had made a net profit of 30 million euros between April and June. The profit before interest and taxes amounted to 44.8 million euros. The acquisition of dba will not have an adverse effect on Air Berlin’s results. Hunold is anticipating a "handsome profit" in 2006.
The contract for the purchase of dba shares, which is still subject to the approval of the German cartel office, was signed in Munich on Wednesday evening. Joachim Hunold remarked that the takeover was designed to secure Air Berlin’s growth. Hunold cited the following individual reasons for the acquisition: "the route networks of Air Berlin and dba complement each other superbly because there are no overlaps. We can integrate dba’s domestic routes in our European network without any problem, thereby achieving a clear increase in the number of business travellers using our airline. Not least because we will be gaining 62 new corporate contracts at a stroke. The dba slots, especially those at the airports of Munich and Düsseldorf, can not be rated too highly either. Air Berlin would have been unable to achieve any growth at these airports in its own right. We will now be improving our strategic position, particularly in Munich." Hunold emphasised that the management team of dba had increased the company’s profitability since its acquisition from British Airways. By signing an attractive contract for the purchase of 25 Boeing 737s with delivery from 2008 to replace the aircraft that are currently being leased, the company had also taken the right decision in terms of it's future development.
The contract for the purchase of dba shares, which is still subject to the approval of the German cartel office, was signed in Munich on Wednesday evening. Joachim Hunold remarked that the takeover was designed to secure Air Berlin’s growth. Hunold cited the following individual reasons for the acquisition: "the route networks of Air Berlin and dba complement each other superbly because there are no overlaps. We can integrate dba’s domestic routes in our European network without any problem, thereby achieving a clear increase in the number of business travellers using our airline. Not least because we will be gaining 62 new corporate contracts at a stroke. The dba slots, especially those at the airports of Munich and Düsseldorf, can not be rated too highly either. Air Berlin would have been unable to achieve any growth at these airports in its own right. We will now be improving our strategic position, particularly in Munich." Hunold emphasised that the management team of dba had increased the company’s profitability since its acquisition from British Airways. By signing an attractive contract for the purchase of 25 Boeing 737s with delivery from 2008 to replace the aircraft that are currently being leased, the company had also taken the right decision in terms of it's future development.