Lufthansa to buy large parts of bankrupt Air Berlin

BERLIN – Lufthansa CEO Carsten Spohr said Thursday that the airline will sign an agreement to buy large parts of the bankrupt carrier Air Berlin, the German news agency dpa reported.

Spohr said that both airlines will sign the agreement later in the day in Berlin.

"Today is a big day, which we will seal in a few hours with a signature," he said.

Air Berlin declared bankruptcy in August following years of losses and the decision of its biggest shareholder, Gulf airline Etihad, to cease financing.