Airberlin filed for bankruptcy last month, which comes as no surprise considering the airline’s recent struggles, including the pull-out of its biggest investor, Etihad Airways.
Aviation consultancy CAPA reported airberlin posted net losses in eight of its previous nine years. In response to the filing, the German government agreed to keep airberlin operational with a €150 million bridge loan.
A Lufthansa representative said it was, “supporting the restricting efforts of the airline jointly with the German government. Lufthansa is already in negotiations with the airberlin Group to take over parts of airberlin. Lufthansa intends to conclude these negotiations successfully in due course.”
Etihad responded, “This development is extremely disappointing for all parties especially as Etihad has provided extensively to airberlin for its previous liquidity challenges and restructuring efforts over the past six years. As a minority shareholder Etihad cannot offer funding that would further increase our financial exposure. We remain open to helping find a commercially viable solution for all parties. We expect airberlin operations to continue during administration.”
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