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Germany's biggest airline, Deutsche Lufthansa AG, said Thursday it is paying $300 million for a 19 percent stake in JetBlue Airways Corp., whose stock has lost about half its value since an operational meltdown last Valentine's Day.;_ylt=AqMCrmAbZ4q8fL9LDhnUwYSyBhIF

The move, which could be a precursor to an eventual takeover if U.S. laws are changed, comes as the euro has risen significantly against the dollar, making U.S. companies seem like bargains for European buyers.

The deal provides for an "operation cooperation," but the companies said no specific areas of integration of flight schedules or systems have been identified.

"This investment presents Lufthansa with a compelling opportunity to invest in the U.S. point-to-point carrier market as the industry continues to evolve," said Lufthansa Chief Executive Wolfgang Mayrhuber.
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