Air Berlin filing for bankruptcy

An aircraft of German carrier Air Berlin seen at Berlin-Tegel airport in Berlin on June 9 this year. (EPA photo)

BERLIN – Struggling German carrier Air BerLin says it’s filing for bankruptcy after its main shareholder, Abu Dhabi-based Etihad, said it would make no more financing available.

The Economy Ministry and Transport Ministry said Tuesday in a statement that the airline would get a loan of €150 million ($177 million) so that it can continue flights for the time being.

The ministries say “we’re in a time when many tens of thousands of travellers and vacationers are in multiple international holiday spots. The return flights of these travellers back to Germany with Air Berlin would not have been otherwise possible”.

The airline, which didn’t answer calls, said in a statement that after Etihad pulled funding, it “came to the conclusion that there was no further positive way ahead for Air Berlin”.

Article source: http://www.bangkokpost.com/business/world/1306663/air-berlin-filing-for-bankruptcy

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