Let the games begin: Lufthansa, Ryanair, easyJet and a German investor are said to be interested in scavenging for pieces of the beleaguered Air Berlin. The German government is getting lots of grief for making a bridge loan but that was a prudent thing to do in the public interest.
Air Berlin Plc needs a swift deal with carriers interested in buying all or part of the insolvent German airline because its prospects look bad, German Economy Minister Brigitte Zypries said.
Zypries said she was surprised by criticism of the German government’s EU150 million bridging loan to keep Air Berlin flying, telling a news conference she expects the money to be repaid.
“We hope it goes quickly, as I believe the future prospects are indeed bad, I mean, who is booking Air Berlin at the moment, even if it’s possible?” Zypries said in Berlin on Saturday.
She said the government had created good conditions for talks on the airline’s future and that there were “enough interested parties,” including Lufthansa, EasyJet, Ryanair and German aviation entrepreneur Hans Rudolf Woehrl.
Air Berlin filed for insolvency on Aug. 15 when main shareholder Etihad Airways PJSC withdrew financial support.
©2017 Bloomberg L.P.
Subscribe to Skift Pro
Subscribe to Skift Pro to get unlimited access to stories like these ($30/month)Subscribe Now
Tags: air berlin
Photo Credit: The whole European airline industry — and not just the two guys in the photo — are following the trajectory of Air Berlin. Bloomberg
Investors Claim They Were Misled About Air Berlin and Alitalia
Etihad's investment strategy, which many saw as bold and innovative at the time, didn't turn out that way. And now the airline will have to answer to creditors.
Luca Casiraghi, Bloomberg | 3 years ago
Lufthansa Ends Pursuit of Air Berlin’s Niki After European Union Pressure
While the European Union's rigorous competition laws are well-meaning, in this case they likely mean the closure of an airline, job losses and travel chaos. Let's hope another buyer emerges.
Richard Weiss, Bloomberg | 4 years ago
Lufthansa’s Planned Air Berlin Takeover Is Questioned by Regulators
It's no surprise regulators understand Lufthansa acquiring assets from what was once its biggest domestic rival could hurt competition. But we're betting Lufthansa will find a way to close this deal.
Aoife White and Richard Weiss, Bloomberg | 4 years ago