COMPANIES Lufthansa took a first step towards the takeover of Austrian Airlines as Austria’s state holding company approved the sale of its 41.6 per cent stake in the airline to the German carrier for an initial €366,000 ($463,000).
But the success of the takeover – which would push Lufthansa ahead of Air France-KLM as Europe’s biggest airline by sales – is dependent on the approval of €500m in Austrian state aid and a successful tender offer to other shareholders.
