Lufthansa to purchase 19 percent share in JetBlue

Europe’s second-largest carrier, Lufthansa Airlines, is set to invest $300 million in low-cost carrier JetBlue. Lufthansa will gain a 19-percent stake in the company and a seat on the board.

As reported by Bloomberg, the new partnership opens the possibility of a U.S. base for Lufthansa to promote trans-Atlantic flights, with JetBlue’s center of operations in New York City’s JFK airport. Meanwhile, JetBlue will receive a much-needed financial boost after two annual losses.

The agreement is strictly financial at this point, but future discussions about codesharing and combining forces are possible.