Lufthansa and Brussels Airlines in negotiations over strategic equity investment

Deutsche Lufthansa AG and SN Airholding SA/NV, the parent company of Brussels Airlines, are in constructive negotiations over an equity investment in SN Airholding. The intention of the negotiations is a collaboration with Brussels Airlines as self-dependently operating airline within the Lufthansa affiliated group. Brussels Airlines has not been involved in an alliance to date. It operates services from the Brussels hub within Europe and also specialises in flights to Africa.

Lufthansa plans to initially acquire 45 per cent of SN Airholding at a proposed price of EUR 65m in the course of a capital increase. After two years and beyond Lufthansa would be authorised to exercise an acquisition option for the remaining 55 per cent. The price of this option is linked to the prospective performance of Brussels Airlines.

As communicated earlier, Brussels Airlines envisage integrating a commercial alliance and analyses opportunities for industrial partnership potentially leading to a financial participation. This project will allow the company to better reach its strategic objectives being to offer its clients a more competitive and dense European network and to continue its growth strategy in Africa.

Over the next few weeks, Lufthansa intends to examine SN Airholding and conclude negotiations as to the contractual details. The planned equity investment in SN Airholding is yet to be approved by the Supervisory Board of Lufthansa, the Board and the shareholders of SN Airholding and the antitrust clearance.

Both companies will inform about the progress of the negotiations in due time and have agreed on maintaining silence until then.

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About Brussels Airlines

Brussels Airlines is the home carrier of Belgium and one of the four network airlines of the Lufthansa Group. It connects the European capital from Brussels Airport with over 85 destinations, 17 of which are in Sub Saharan Africa. The company employs more than 3,300 people and operates 43 aircraft.

Brussels Airlines aims to emit 50% less CO2 by 2030 compared to 2019 and plans to be carbon neutral by 2050. The airline is participating in the Stargate Project led by Brussels Airport and is therefore part of the testing ground for sustainable aviation at its home base. In addition, the airline signed the Circular Economy agreement of the Antwerp Management School in 2021. The airline was the first to transport Sustainable Aviation Fuel (SAF) through the CEPS-pipeline connecting Brussels Airport early 2023. By end 2024, Brussels Airlines will have welcomed five state-of-the-art Airbus A320neo allowing the airline to significantly lower its CO2- and noise-emissions on its medium-haul network.

As an ambassador of its country, Brussels Airlines brings the world to Belgium and the best of Belgium to the world, among others through collaborations with Belgian Star Chefs, Belgian culinary products and the Belgian Icons, specially painted aircraft that honour a Belgian iconic person, team or event to promote Belgian culture worldwide.

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About Star Alliance

The Star Alliance network was established in 1997 as the first truly global airline alliance, based on a customer value proposition of global reach, worldwide recognition and seamless service. Since inception, it has offered the largest and most comprehensive airline network, with a focus on improving customer experience across the Alliance journey.

Overall, the Star Alliance network currently offers more than 10,000 daily flights to almost 1,200 airports in 184 countries.

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