Lufthansa gets backing from Economy Minister in Air Berlin carve-up
Lufthansa has received more German government support in its bid to take over substantial assets of insolvent rival Air Berlin, with German Economy Minister Brigitte Zypries saying she would welcome such a move. "Lufthansa is already an aviation champion - its position can be strengthened further though," she was quoted saying by German daily Handelsblatt Monday. However, a spokesman for the ministry later attempted to play down the remarks, saying it had no preferred bidder. Industry rivals have voiced concerns at the way the insolvency process is being handled. "Air Berlin is leading the negotiations," the spokesman said. "The government is not at the table. And the government is neither for nor against any of the interested parties." Lufthansa, Germany's top carrier, cannot buy all of Air Berlin because it would give it a dominant position in Germany. But Lufthansa is first in line for talks, ahead of other potential bidders. Ryanair boss Michael O'Leary has already complained that the process is going too quickly to give others a chance to bid. A creditors' committee, which will have to agree any sale, is due to meet for the first time on Wednesday, two sources said, although no major decisions are expected.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-22/star/lufthansa-gets-backing-from-economy-minister-in-air-berlin-carve-up
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Lufthansa gets backing from Economy Minister in Air Berlin carve-up
Lufthansa has received more German government support in its bid to take over substantial assets of insolvent rival Air Berlin, with German Economy Minister Brigitte Zypries saying she would welcome such a move. "Lufthansa is already an aviation champion - its position can be strengthened further though," she was quoted saying by German daily Handelsblatt Monday. However, a spokesman for the ministry later attempted to play down the remarks, saying it had no preferred bidder. Industry rivals have voiced concerns at the way the insolvency process is being handled. "Air Berlin is leading the negotiations," the spokesman said. "The government is not at the table. And the government is neither for nor against any of the interested parties." Lufthansa, Germany's top carrier, cannot buy all of Air Berlin because it would give it a dominant position in Germany. But Lufthansa is first in line for talks, ahead of other potential bidders. Ryanair boss Michael O'Leary has already complained that the process is going too quickly to give others a chance to bid. A creditors' committee, which will have to agree any sale, is due to meet for the first time on Wednesday, two sources said, although no major decisions are expected.<br/>