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US and EU give go ahead for Lufthansa/Swiss takeover
Friday, 05 Jul, 2005
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US regulators have given their approval for German airline Lufthansa to plough ahead with its planned $375 million takeover of Swiss International.
But the carrier must still wait for European approval. A decision is expected next week.
Lufthansa has vowed to retain the Swiss brand should the deal be agreed and run it as a Swiss-based airline operating from Zurich.
The deal, announced in March, came after Swiss announced losses of $1.64 billion since it was formed out of Swissair in 2002.
Report by Steve Jones
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