Lufthansa snaps up large parts of failed Air Berlin
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Berlin
LUFTHANSA reinforced its position as Germany's largest airline on Thursday by signing a 210 million euro (S$337 million) deal to buy large parts of insolvent Air Berlin.
Lufthansa plans to use the Air Berlin assets to quickly expand its Eurowings budget business. News of the deal pushed Lufthansa shares up more than 3 per cent to their highest level in nearly 17 years.
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