Low-cost carrier EasyJet will pay €40 million ($46.4 million) to acquire part of Air Berlin's operations at Berlin Tegel Airport.

The agreement will see it entering leases for "up to 25 Airbus A320 aircraft", says EasyJet in a statement.

The deal is expected to close in December, pending regulatory approvals. The €40 million figure "excludes potential start-up and transitional operating costs."

In addition to taking the aircraft leases, EasyJet will offer employment to around 1,000 Air Berlin air crew and other assets, including slots. Air Berlin pilots and crew will be trained on EasyJet procedures.

"This will enable EasyJet to operate the leading short haul network at Tegel connecting passengers to and from destinations across Germany and the rest of Europe," says EasyJet. "This is in addition to EasyJet's existing base at Berlin Schönefeld and would mean that EasyJet would be the leading airline in Berlin."

The carrier adds that it will announced new routes and services to and from Tegel "in due course."

Source: Cirium Dashboard