Air Berlin PLC and Co Luftverkehrs KG has agreed to sell its subsidiaries, including German regional airline Luftfahrtgesellschaft Walter mbH (LGW) and Austrian air transportation services provider NIKI Luftfahrt GmbH to German airline Deutsche Lufthansa AG.

LGW’s fleet comprises 17 Bombardier Dash 8 Q400 and 13 Airbus A320 aircraft, while NIKI owns 20 Airbus A320-type aircraft.

“Cathay Pacific Airways Limited has entered a deal with Deutsche Post International BV to buy a 40% stake in Air Hong Kong Limited.”

The acquisition is expected to close by December.

Hong Kong-based passenger and cargo services provider Cathay Pacific Airways Limited has entered a deal with Deutsche Post International BV to buy a 40% stake in Air Hong Kong Limited (AHK) for HK$36.26m ($4.64m).

AHK is engaged in providing cargo airline services in Asia.