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German flagship airline Deutsche Lufthansa AG (LHA.XE) has concluded its takeover of Austrian Airlines AG (AUA.VI), the airline said Thursday.

All conditions for the transactions are now fulfilled, Lufthansa said. Austrian Airlines is therefore a part of Lufthansa as of September.

The European Union Commission approved the merger on the condition Austrian Airlines give up routes between Vienna and a number of German destinations and Brussels. It also approved EUR500 million of restructuring aid injected into Austrian Air by the Austrian government on the condition Austrian Air shed 15% of its flight capacity before the end of next year.

Lufthansa agreed to buy the Austrian state's 41.6% stake in Austrian Air, and to place a EUR4.49 a share takeover offer for the remaining shares last year, but the deal hinged on the final approval of the European Commission.

The airline said all shareholders, who have until now not accepted its offer have time to offer their shares until Sept 9. It will undertake all necessary steps for a squeeze out.

Company Web site: http://konzern.lufthansa.com

-By Kirsten Bienk, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com