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.
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.