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Monday, June 30, 2008

Lufthansa Shelves Joint Venture in India

From Forbes (Thomson Financial): Deutsche Lufthansa AG has shelved plans for its aircraft maintenance joint venture with India’s GMR Group, a company spokesman told Frankfurter Allgemeine Zeitung. “The current general market development as well as consolidation within the India aviation industry necessitates an adjustment of our plans,” he said. Lufthansa would have held 75 percent of the joint venture, which was announced in April 2007, the paper said.
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