Several Airlines Show Interest in Buying Air Berlin’s Assets
AFP 2017/ PATRIK STOLLARZBusiness23:54 16.08.2017Get short URL
German Economy Ministry said several airlines have already shown interest in purchasing the assets of one of Germany’s biggest airlines Air Berlin.
BERLIN (Sputnik) – Several airlines have already shown interest in purchasing the assets of one of Germany’s biggest airlines Air Berlin, after it filed for bankruptcy, German Economy Ministry spokeswoman Beate Baron said Wednesday.
On Tuesday, media reported that Air Berlin had filed for insolvency proceedings following the refusal of the Etihad Airways, which holds a 29.2-percent stake in the airline, to continue providing it with financial support. Air Berlin will get a 150-million euro (over $175 million) loan from the German government to allow it to continue flights within the next three months.
“The loan of the German government is allocated for the transition period, meaning the operation of the airline will continue until the moment when the talks with the other companies are finished. Other airlines have already shown interest in buying Air Berlin assets,” Baron said during a briefing.
Asked whether the government would provide other loans in the event that no decision on the company’s assets was made in the near future, the spokeswoman declined to answer.
Baron noted that Berlin received information on Etihad’s decision to pull its funding from Air Berlin on Friday, causing a “big surprise” and prompting the government’s immediate response.
The government’s loan created “prospects for Air Berlin in the light of the ongoing talks with different airlines,” Baron went on, specifying that if Berlin had not acted as it did, many passengers would have been negatively affected by the situation.