On Dec. 5, 2008, Standard&Poor's Ratings Services revised its outlook on Germany-based aviation group Deutsche Lufthansa AG to negative from stable, reflecting a weakening trading environment and the group's announcement that its supervisory board has approved the acquisition of up to 100% of the shares in Austrian Airlines AG (Austrian). The initial outlay for the 41.6% stake held by the Austrian state holding company is minimal. In the event that Lufthansa succeeds in gaining full control, the transaction cost, which is dependent on Austrian's performance and the Lufthansa share price relative to its peers, could rise to a manageable €378 million. At the same time, the short-term corporate credit rating on the group was lowered to 'A-3' from
