According to Reuters, Lufthansa will acquire Air Berlin's subsidiaries Niki and LG Walter, as well access to take-off and landing slots at Air Berlin's hubs at Berlin's Tegel airport and at Duesseldorf airport.
Shares in Lufthansa rose more than 3% to top Germany's Dax index after the chief executive's comments and upbeat notes from analysts.
Speaking on Thursday, Spohr indicated he expected the deal would receive approval from the European Union by the end of the year, which would allow Lufthansa to stabilise operations within six to nine months.
HSBC analysts lifted their target share price to 29 euros from 25 euros (£22.38), citing the imminent agreement with Air Berlin, a new multi-year labour deal with pilots announced this week and a positive trading performance this year.
In 2016, Air Berlin showed a record 782 million euros in losses - a 75 per cent increase compared to 2015 - which the company attributed to restructuring costs and depreciation.
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The new VR device is developed to be more compact, more powerful graphics, along with cameras that will use inside-out tracking. However, there's also a 3.5mm headphone jack for private listening, or for when you're getting on your housemates' nerves.