German airline Deutsche Lufthansa AG (LHA.XE) Friday said the conditions placed on its planned takeover of peer Austrian Airlines AG (AUA.VI) by the European Commission, the E.U.'s top antitrust authority, are "economically acceptable."

In a written statement, the company also said that all the conditions which the German carrier had placed upon its bid have now been fulfilled, following the E.U.'s green light for the deal and EUR500 million restructuring aid the Austrian government will pay to Austrian Airlines.

More than 75% of Austrian Airlines shareholders have tendered their shares to Lufthansa, the company said, adding it will be paying a total of around EUR166 million, or EUR4.49 a share.

Earlier Friday, the European Commission formally approved the takeover subject to certain conditions.

Company Web site: www.lufthansa-financials.com

-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503; jan.hromadko@dowjones.com