Jet Blue the struggling discount carier sold 19% stake in its business to Lufthansa of Germany for $300 million.it is the major investment by a foreign airline.This transaction is also the latest example of the weak dollar to invest in a prominent American company.
The stake sale may help shore up the lagging finances of JetBlue which has $433 million in current debt obligations and has already substantially curtailed its growth plans and sold some assets like older planes. While Lufthansa's investment is strictly financial and doesn't include any strategic partnership for now.
Industry watchers speculated that the deal could lead to further cooperation and give Lufthansa an important foothold in the United States.
source: bbc news
Posts
No comments:
Post a Comment