Germany”s largest budget airline, Air Berlin (AB), has surprisingly purchased D”sseldorf-based long-haul leisure carrier, LTU.
The deal, which is subject to approval from competition authorities, comes just six months after the carrier added another German budget operator to its portfolio, DBA, once owned by British Airways. AB also plans to buy 49% of Swiss carrier, Belair.
Established in 1955, LTU today has a fleet of 15 Airbus A320 aircraft and nine A330 variants. With the acquisition of LTU, Air Berlin will be the first of the new breed of so-called ”low cost” airlines to have a true long-haul operation within its portfolio.
LTU's European routes will be integrated into AB's network. "Many of our clients wanted Air Berlin to offer long haul routes. Now we can do that, in addition to our German and European networks," CFO Ulf H”ttmeyer said.
Air Berlin was created in 2002 and is now the largest continental budget airline operating from 16 German airports. In Majorca it is easily the biggest operator at Palma airport. Its British hub is at Stansted and the airline has been a publicly quoted company since May 2006.