Lufthansa to purchase 19 percent share in JetBlue
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Europe's second-largest carrier,
Lufthansa Airlines
, is set to invest $300 million in low-cost carrier
JetBlue
. Lufthansa will gain a 19-percent stake in the company and a seat on the board.
As reported by
Bloomberg
, the new partnership opens the possibility of a U.S. base for Lufthansa to promote trans-Atlantic flights, with JetBlue's center of operations in New York City's JFK airport. Meanwhile, JetBlue will receive a much-needed financial boost after two annual losses.
The agreement is strictly financial at this point, but future discussions about codesharing and combining forces are possible.