Lufthansa Group has signed an agreement with Air Berlin on 12 October 2017, to acquire a major part of AirBerlin’s operations.

Air Berlin reported that Lufthansa, Germany’s largest airline, would acquire several business units, for 210 million euros, or about $249 million.

The purchase is subject to regulatory approval and the price is subject to adjustments upon closing.

Lufthansa will take over 81 planes and agreed to hire 3,000 people out of the current 8,000 people from Air Berlin as part of an overall investment of €1.5 billion.

Air Berlin said it is continuing negotiations with the discount airline easyJet and with other bidders for other parts of its business.

The last AirBerlin flight will take place from Munich to Berlin on October 27th.

Source: spiegel.de