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sd-10-EFTA01385538Dept. of Justice

EFTA Document EFTA01385538

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> BLT ED Deutsche Lufthansa - Anand Date, BUY, close €30.7, €36.2 tgt, 18% upside ■ The Air Berlin acquisition is an excellent deal. >50% of Air Berlin flown capacity on routes where Lufthansa + Air Berlin would have combined 80- 100% market share, creating capacity and revenue management opportunities. - The combined group would have a number of strong positions at severely and slightly constrained airports. Our August 2017 note ("Finding a sweet slot") highlighted the benefits of such p

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Dept. of Justice
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sd-10-EFTA01385538
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