EU Clears Lufthansa-Austrian Air Merger For Takeoff
Law360 (August 28, 2009, 1:02 PM EDT) -- The Europe Commission gave final approval Friday to German airline Deutsche Lufthansa AG's €366 million ($522 million) acquisition of Austrian Airlines AG, noting that the provision of the deal calling for Austria to include €500 million ($713 million) in state aid toward the ailing airline's debts did not violate European Union law.
The commission said the aid did not run afoul of EU guidelines for rescuing and restructuring troubled companies.
European Commission Vice President and Commissioner for Transport Antonio Tajani described the decision as "yet another step taken favoring the consolidation of the airline sector," which he said "will lead to...
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