Air Berlin Files for Insolvency

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great dane
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Air Berlin Files for Insolvency

#1

Post by great dane » Tue Aug 15, 2017 3:17 pm

Air Berlin Files for Insolvency After Etihad Withdraws Support

https://www.bloomberg.com/news/articles ... ws-support
Air Berlin Plc filed for insolvency proceedings after main shareholder Etihad Airways PJSC withdrew its financial support.

The discount carrier and subsidiaries submitted the filing in a local Berlin court, though it won’t seek bankruptcy protection for its Niki Luftfahrt GmbH and Leisure Cargo GmbH units, Air Berlin said in a statement. Talks with Deutsche Lufthansa AG and other parties regarding disposals are continuing, it said. The German government is providing a bridge loan to maintain flight operations.

Air Berlin has been restructuring in an effort to stem years of losses, including leasing part of its fleet to Lufthansa. Plans to merge Niki with TUI AG’s German airline arm fell apart in June after Abu Dhabi-based Etihad said it failed to reach a deal on forming a joint venture for the operation.


D-ABNF at Dusseldorf in 2015 - this aircraft have since gone to Condor. Once a fleet of around 150 aircraft, Air Berlin only have around 60 left.
ImageD-ABNF-16Apr15-DUS by Aviation Adventures South Africa, on Flickr



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Raffles
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Re: Air Berlin Files for Insolvency

#2

Post by Raffles » Wed Aug 16, 2017 12:03 am

Eish!

"Aviation is a way of circulating a lot of money until there isn't any left"...............ChChChester



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Bell 407
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Re: Air Berlin Files for Insolvency

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Post by Bell 407 » Wed Aug 16, 2017 10:35 am

Raffles wrote:"Aviation is a way of circulating a lot of money until there isn't any left"...............ChChChester

:shock:



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