airberlin to cease flights on October 28th

Airberlin To Cease Flights On October 28th

airberlin to cease flights on October 28th

airberlin will cancel all flights by October 28th “at the latest” as the idea formally declares bankruptcy.

Airberlin To Cease Flights On October 28th

The German carrier began insolvency proceedings in August, seeking protection by its creditors.

Airberlin To Cease Flights On October 28th

A temporary solution was found when airberlin was bailed out by a £137 million loan by the German government, which has kept planes flying until today.

Airberlin To Cease Flights On October 28th

However, these funds have today been exhausted.

Airberlin To Cease Flights On October 28th

The final crisis began when Etihad, which holds a 29 per cent stake within the German company, finally lost patience with the loss-generating airline along with withdrew its funding.

Airberlin To Cease Flights On October 28th

The Abu Dhabi-based carrier had injected £227 million into Air Berlin as recently as April.

Airberlin To Cease Flights On October 28th

In a statement Etihad added: “airberlin’s business has deteriorated at an unprecedented pace, preventing the idea by overcoming its significant challenges along with by implementing alternative strategic solutions.”

airberlin’s 8,0 employees are being urged to seek jobs elsewhere.

The airline has begun talks with labour leaders on terms for letting employees go, according to a letter released by chief executive Thomas Winkelmann.

airberlin can be also involved within the process of selling planes along with airport slots.

Deutsche Lufthansa along with easyJet among those bidding for the company’s assets.

airline was set up in 1978 in what was then West Berlin along with, after adopting a low-cost business type following Germany’s unification in 1990, the carrier sold shares public in 2006.

A statement by airberlin read: “As far as we are currently aware, flight operations under the IATA airline code AB will no longer be possible during the insolvency proceedings, at the latest by October 28th 2017.”

However, NIKI flights are not affected along with will be continued.

Passengers who booked before August 15th will not be able to claim the cost of tickets back, the carrier said.

airberlin to cease flights on October 28th

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