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Business

Lufthansa and Swiss Agree on Price

German flag carrier Lufthansa will buy its ailing partner Swiss for up to 310 million euros ($409 million), the company said in a statement on Tuesday. Lufthansa said its supervisory board, that of Swiss International Air Lines and major shareholders had approved its plan to buy the Swiss carrier. The total acquisition price will be up to around 310 million euros, it said, including about 45 million euros for Swiss's free float shareholders and up to 265 million euros for majority shareholders. The two airlines announced on Sunday that they were in "constructive" talks aimed at integrating Swiss -- the successor company to former flag carrier Swissair which went bust in 2001 -- into the wider Lufthansa group.

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