Air Berlin to be restructuredBack to Forum
A media statement issued a few mins ago by the Lufthansa Group says that Air Berlin will be restructred by both Lufthansa and the German govt.
Air Berlin (almost 30% owned by AbuDhabi’s Etihad) has been in financial difficulties for some time and it was expected that a solution would eventually have to be found.15 Aug 2017
Air Berlin has filed for bankruptcy.
Also in German language15 Aug 2017
Sad end to another mis-managed airline. How did they continue expanding while always making losses. So many aircraft (132) so few profits. LH will shred them.
IAG was interested previously ‘though doubt LH and German government will allow another IB on their territory even if it would be a success!16 Aug 2017
Another blow to Etihad, with poor investments in Alitalia lost, and now Air Berlin. Not very good strategists employed it seems!
Perhaps it says something about the ME3 trying to buy their way into the European Market, with the low cost carriers at their side.
Hence the loss of $1.5 Billion at Etihad, and this for 2017 to be factored in yet.
No wonder they are making huge cutbacks, affecting the whole travel experience dramatically. They are no longer a “Boutique” Airline, and nothing special compared to the rest, all the frills have been cut back!
Hence my Business has gone elsewhere.
I wonder what will happen to Air Berlin FFP members accrued miles?16 Aug 2017
Reuters: “Lufthansa gets first say on Air Berlin asset sale-union.”
Negotiations will begin tomorrow (Friday).17 Aug 2017
Air Berlin’s CEO is reported as saying “we want to settle the sale in September at the latest, otherwise customers’ trust in the airline will vanish.”21 Aug 2017
Air Berlin’s CEO is reported as saying “we want to settle the sale in September at the latest, otherwise customers’ trust in the airline will vanish.”
Hasn’t the trust already gone? I’d not risk booking with them now.21 Aug 2017
Reservations for a number of transatlantic services are not closed.
And latest news today is that Air Berlin’s FFP, which is branded Topbonus, has filed for bankruptcy.25 Aug 2017
Topbonus files for bankruptcy. Looks as though members will lose their perks/awards.
http://www.reuters.com/article/us-air-berlin-lufthansa-frequent-flyer-idUSKCN1B51D1?feedType=RSS&feedName=businessNews&utm_source=Twitter&utm_medium=Social&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%2925 Aug 2017
Reuters is reporting that Lufthansa has offered Euros 200 million to buy Air Berlin’s assets plus another Euros 100 million to meet operating costs.
But Easyjet may also still be in the running for some of the assets. It’s reported that both carriers are keen to obtain more slots at DUS which, as many readers may know, is a very busy airport.
Our news piece from September 15.24 Sep 2017