Air Berlin stops flights at the end of October
The bankrupt German airline Air Berlin (AB1) will stop its flights at the end of October, 2017. Besides stopping the flights, the airline also advises its employees to look for jobs.
As liquidation of Air Berlin (AB1) begins, the airline is stopping flights after October 28 “the latest” and encouraging the employees to look for jobs elsewhere, according to a letter by company’s CEO Thomas Winkelmann. However, the operations of the airline’s brands Niki and Luftverkehrsgesellschaft Walter (LGW) continue.
Now, at the final stages to submit offerings for (parts of) Air Berlin (AB1) , there are two main competitors left – German Lufthansa (LHAB) (LHA) and British EasyJet. According to the latest status update of bidder negotiations issued by the bankrupt carrier in September 25, 2017, the airline “received offers from Lufthansa (LHAB) (LHA) for the subsidiaries Luftverkehrsgesellschaft Walter (LGW), the Austrian holiday airline NIKI and parts of Air Berlin (AB1) . A successful conclusion of the negotiations will open up job prospects for several thousand employees.”
“The British low-cost carrier easyJet has submitted an offer to take over some of the airberlin fleet” is said in the statement, noting that this offer would also “create new job opportunities for airberlin employees”.
Air Berlin (AB1) , Germany’s second-largest airline, was coping with considerable financial difficulties in the past time. However, it was only after its main shareholder Etihad withdrew its financial support, Air Berlin (AB1) filed for insolvency on August 15. The move was supported by both the German government, which agreed to provide €150 million of State Aid to keep it afloat, as well as Germany’s main carrier Lufthansa (LHAB) (LHA) , which is considered to be the first in line to take parts of the business.
In addition to the eponymous brand, Lufthansa Group owns Austrian Airlines, Swiss Airlines, Eurowings and Brussels Airlines, as well as a share in the Turkish SunExpress. In 2016, they transported a record number of passengers – 109.67 million people. In addition, the group includes logistics, technical and service companies.
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