Lufthansa Writes Down Value of Brussels Airline Stake, Echo Says

Deutsche Lufthansa AG (LHA) has reduced the value of its stake in Brussels Airlines by 13 million euros ($17 million) because of poor results and a difficult economic environment, L’Echo reported.

The writedown of Lufthansa’s 45 percent holding is a “small reduction,” the newspaper quoted Lufthansa spokesperson Aage Duenhaupt as saying. Brussels Airlines will now strive to reduce the 30 million euros in losses it expects for 2012 and to return to profitability in 2013, L’Echo said.

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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