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Deutsche Lufthansa AG (LHA.XE) has finalized the planned squeeze out of minority shareholders in its recently acquired subsidiary Austrian Airlines AG (AUA.VI), the Vienna Stock Exchange said Thursday, upon suspending the shares from trading.

Lufthansa had resolved to pay Austrian Air's remaining minority shareholders a squeeze out price of EUR0.5 a share, excluding costs and provision, a price the company, despite shareholder protests, had deemed "appropriate", considering the poor financial condition of Austrian Airlines.

Late last year, Austrian Airlines said an internal audit had determined the carrier had a negative value of EUR207.2 million, corresponding to a negative per share value of EUR2.43.

Lufthansa initially signed the takeover of Austrian Airlines in September 2009 after it had secured the Austrian state's 41.6% stake and placed a successful EUR4.49 a share public takeover offer for the remainder.

Of the roughly 85.1 million Austrian Airlines shares issued, some 3.9 million had remained in freefloat after the conclusion of the takeover offer, corresponding to some 4.6% of the total share capital.

A Vienna Stock Exchange spokeswoman told Dow Jones Newswires the bourse will now request a cancellation of Austrian Airline's listing.

The shares closed Wednesday at EUR1.89.

Company Web sites: www.lufthansa-financials.com; www.austrian.com

-By Flemming E. Hansen and Kirsten Bienk, Dow Jones Newswires; +43 1 513 69 22 10; flemming.hansen@dowjones.com