Easyjet part of talks for Air Berlin assets

Air Berlin files for insolvency after Etihad withdraws support

Air Berlin files for insolvency after Etihad withdraws support

Air Berlin, Germany's second-largest passenger carrier, filed for insolvency on Tuesday.

At the time Air Berlin said it planned to add four times weekly service between Toronto and Dusseldorf starting May 1, 2018.

The German airline said in a statement that it had filed for insolvency with the court of Berlin-Charlottenburg after Etihad pulled funding. Etihad's then-chief James Hogan said at the time that his company wasn't prepared to carry on in investing without the support of all stakeholders.

Ms Zypries said discussions between Air Berlin and Lufthansa were going well, and a deal whereby Lufthansa takes over part of the insolvent airline should be struck in the next few months.

In 2016, Air Berlin showed a record 782 million euros in losses - a 75% increase compared to 2015 - which the company attributed to restructuring costs and depreciation. Etihad called the filing "extremely disappointing" given its "extensive support" since it invested in 29% of Air Berlin PLC's equity in late 2011. "The return flights of these travellers back to Germany with Air Berlin would not have been otherwise possible". "We have a commercial relationship with airberlin across a range of areas, including codeshare operations, and we will support airberlin's management during these hard times".

"Now even the German government is supporting this Lufthansa-led monoploy with €150 million of state aid so that Lufthansa can acquire Air Berlin and drive domestic air fares in Germany even higher than they already are".

Etihad said that it provided Euro 250 million in additional funding to airberlin this past April, but that since then the airline's business has "deteriorated at an unprecedented pace", preventing it from implementing alternative solutions.

In June, the airline insisted that "it was not about to go bankrupt", despite the Gulf-based carrier initially pledging support to the airline until October 2018.

It means: All flights from airberlin and NIKI are operating and the current flight schedule as well as booked flights are valid. airberlin and NIKI are continuing to accept future bookings. "If acquired, Air Berlin's Dusseldorf airport slots would likely be a valuable asset to Lufthansa while freezing new entrants out of the "full" airport, unless the German authorities require slots to be surrendered to new entrants".

Recommended News

  • Fitness Employee Shares Pick-Up Private Messages From Justin Bieber

    Fitness Employee Shares Pick-Up Private Messages From Justin Bieber

    This post led to one Justin Drew Bieber slipping into their DMs , demanding to know the identity of this young, fit beauty. While she was stunned at the DM, some Twitter users were green with envy over the exchange.
    Rick Porcello threw an immaculate inning against the Rays

    Rick Porcello threw an immaculate inning against the Rays

    Nelson Cruz homered twice and provided three RBIs for the Mariners, who received 4 2/3 innings of shutout ball from the bullpen. The Rays did not get a runner to second base until the seventh, when Sale followed a walk to Logan Morrison with a wild pitch.
    Trump defends McMaster in wake of criticism on the right

    Trump defends McMaster in wake of criticism on the right

    Trump doesn't seem interested in consensus from the generals or key security officials. Thus, McMaster has yet to earn Trump's trust in running the NSC as he sees fit.
  • Evacuated as Sichuan Recovers From 7.0 Magnitude Earthquake

    Evacuated as Sichuan Recovers From 7.0 Magnitude Earthquake

    According to Chinese authorities, groups of tourists are being transported out of Jiuzhaigou and brought to safe accommodation. When Tuesday's quake hit, the performers ran off the stage in terror and the audience thought the tremor was part of the show.
    Disney Ends Partnership With Netflix To Launch Its Own Streaming Service

    Disney Ends Partnership With Netflix To Launch Its Own Streaming Service

    Netflix's current stock of Disney movies includes Marvel films such as Captain America: Civil War and Doctor Strange . The service's initial lineup will include Toy Story 4 , Frozen 2 and the live-action adaptation of The Lion King .
    Bank of England slashes its growth forecast (again)

    Bank of England slashes its growth forecast (again)

    Since Britain voted to leave the European Union in June past year , sterling has dropped around 12% against the USA dollar. Mr Posen, interviewed on the Today programme on Radio 4, said rates may not rise until next year.
  • 'US would win': Mattis warns North Korea

    'US would win': Mattis warns North Korea

    Evidently, similar offers-you-can't-refuse have been made to previous ASEAN chairs, including this year's hosts, the Philippines . North Korea regularly uses flamboyant language to make threats against the USA and the West.
    Income Tax Department Deactivated 11 Lakh PAN Cards ; Know your PAN Status

    Income Tax Department Deactivated 11 Lakh PAN Cards ; Know your PAN Status

    If there is more than one PAN number registered with the same details, you will see a notification regarding the same. The linking of the PAN with UIDAI-linked Aadhaar was made compulsory by the government for filing income tax returns.

    Unreleased 'Game Of Thrones' Episode Reportedly Leaked Online

    HBO is working with law enforcement and private security firms to examine the extent of the breach and to protect its data. The most notable one remains the one prior to season 5 in 2015, when screeners sent to the press were put online.
  • Sports Chelsea Makes £25m Bid for Chamberlain

    Sports Chelsea Makes £25m Bid for Chamberlain

    The Daily Star has revealed that the Blues have raised their bid after they initially offered £25 million for the 23-year-old. He will continute to move up beecause the potential is there.
    Prosecutors Seek 12-Year Sentence for Samsung Chief

    Prosecutors Seek 12-Year Sentence for Samsung Chief

    Samsung , whose group revenues are equivalent to nearly a fifth of South Korea's GDP, did not comment on the prosecutors' demand. Samsung's de-facto leader Lee Jae-yong fought back tears as he made a final statement in his trial for bribery and embezzlement.

    Leaked Images Suggest Spotify is Coming to Xbox One

    Certain sources that The Verge claims are familiar with Spotify and Xbox One confirm that the app is now being tested internally. Spotify on Xbox One should provide the same kind of high quality experience subscribers of the service are accustomed to.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.