Lufthansa aims to become European leader

German airline Lufthansa aims to become the European leader with the acquisation of the loss making Austrian airlines and the deal was struck with the holding company OeIAG's 42 percent stake in Austrian Airlines (AUA) but plans to take it over completely for up to 377 million euros once Brussels approves the tie-up. With the airline sector in downstream but with this deal Lufthansa aims to be on the top of aviation industry.Airline industry body IATA has warned commercial aviation could lose more than $5 billion this year so Lufthansa has to be in guard with the situation and so it has started seceral cost cutting measures.