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US and EU give go ahead for Lufthansa/Swiss takeover

Tuesday, 5 July 20053 min read

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