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English news

22-Oct-2017

Air Berlin seeks damages from Etihad

German airline Air Berlin is demanding damages from Etihad Airways, which owns 30% in Air Berlin, for letting it become insolvent and it hopes for a payment of at least EUR10mn, Air Berlin’s administrator told a German newspaper. Air Berlin, Germany’s second-biggest airline after Lufthansa, filed for bankruptcy in August after Etihad withdrew funding following years of losses. Etihad has been reviewing its European investments after they failed to yield the expected profits. Alitalia, another of Etihad’s investments, is also seeking bidders. Air Berlin’s planes have been kept in the air by a EUR150mn government loan, which the company said it could repay with the proceeds from a sale of assets to larger rival Lufthansa agreed last week. 

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