After several difficult months for airberlinThe verdict is in: the airline has filed for bankruptcy, after accumulating losses for several months. A week earlier, majority shareholder Etihad had refused to bail out the German carrier. The restructuring of Etihad's European investments had been "in the pipeline" for several weeks, as the company had to deal with the Airberlin and Alitalia balance sheets in deficit. "In April, Etihad injected 250 million euros The Etihad management team was quick to point out that the airline had taken an additional equity stake in airberlin, and had helped the company to explore strategic options for its business.
All flights operated by airberlin and Niki continue as planned
" Today's announcement follows notification from Etihad that it no longer intends to provide financial support to air Berlin, concludes the coldly worded press release issued by airberlin on 15 August. This official statement at least partially reassures business travellers and holidaymakers who have already booked their flights. In fact, the German federal government is providing a loan to the company, which can thus meet its commitments to passengers. " All flights operated by airberlin and Niki continue as planned" They added that the flight schedule and reservations remain valid.
These guarantees were not enough to reassure everyone in the business travel industry. In the wake of the announcement, the business travel agency stated that " in the face of the uncertainties surrounding Air Berlin, FCM Travel Solutions has taken the decision to stop selling tickets [for the company's flights] with immediate effect and until further notice." .
What happens next?
The future of Air Berlin is now likely to lie with its compatriot Lufthansa. In fact, when they made the bankruptcy filing official, the directors of the bankrupt airline made no secret of their intentions, or their hopes. " The negotiations with Lufthansa and other partners for the acquisition of airberlin operating units are well advanced and highly promising "The press release goes on to say that these negotiations should be finalised shortly. " We are working relentlessly to find the best possible outcome for the company, our customers and our employees, given the situation" assures Thomas WinkelmannAirberlin CEO. For their part, Etihad executives explain that " Etihad cannot offer support that would increase its financial risks" but say " remain open to help find a commercially viable solution for all parties" . " We will support airberlin's management in these difficult times" they add.
