The European Union (EU) on Tuesday gave a conditional green light to German airline Lufthansa AG's takeover of Swiss International Air Lines.

The EU's executive arm European Commission said in a statement that its clearance is conditional upon the parties surrendering slots at Zurich and Frankfurt airports and other concessions.

Lufthansa, Europe's third-largest passenger airline behind British Airways and Air France-KLM, signed a deal on March 22 to take over its ailing Swiss counterpart, which was created after Swissair collapsed in 2001 and is now facing huge financial problems.

The German airline had already received a green light from the Swiss government and corporate shareholders, who together hold 85 percent of the Swiss carrier and have agreed on a symbolic sum for their stock.

The approval from the competition authorities, which came a day after similar clearance in the United States, was the final step in the takeover.

"I welcome airline consolidation in Europe, but it should not lead to higher prices or reduced choice of carrier. The commitments given by Lufthansa ensure that competitors will be able to offer new services in competition with the merged company, " EU's Competition Commissioner Neelie Kroes said.

Source: Xinhua