Lufthansa soars to new heights

German flag-carrier Lufthansa is set to become Europe’s biggest airline after signing a deal to buy the loss-making Austrian Airlines. Brussels needs to give the thumbs up to the purchase, which will set Lufthansa back 377 million euros. Air France and British Airways are in battle with Lufthansa to emerge as Europe’s leader from the ashes of an industry struggling with rising fuel costs and falling passenger numbers.

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tags: Airlines, Corporate