Air Berlin PLC
Air Berlin PLC is a German airline company based in Berlin. Originally founded in 1978, the airline group has expanded through mergers and acquisitions of other European carriers. Air Berlin PLC holds a significant stake in Lesiure, and a minority stake in Belair (49%). The group held a minority stake in Vienna-based airline, NIKI. Etihad Investment Holding Company LLC acquired the 49% stake in NIKI from Air Berlin PLC in Dec-2016. Air Berlin is listed on the Frankfurt Stock Exchange and Xetra (AB1:GR).
Air Berlin PLC's primary subsidiary is airberlin (with Etihad Aviation Group holding a 29.2% stake in Air Berlin PLC).
airberlin filed to commence insolvency proceedings on 15-Aug-2017, in order to continue with a "restructuring process". The proceedings are due to Etihad Airways intending to no longer provide airberlin with financial support. airberlin stated Germany's Federal Government, Lufthansa and other partners are "supporting airberlin in its restructuring efforts", with the Federal Government offering an EUR150 million bridging loan to maintain flight operations" for the interim period. The carrier's creditors committee announced Deutsche Lufthansa AG and easyJet as "selected bidders" for airberlin's aviation business. Deutsche Lufthansa AG will acquire regional carrier Luftfahrtgesellschaft Walter mbH (LGW) and NIKI from Air Berlin Group for a combined purchase price of EUR210 million, following negotiations between the two German airline holding companies. No effective date has been announced, however CAPA expects the acquisitions will be in effect following the cessation of service operations by airberlin. Negotiations between Air Berlin PLC and easyJet are ongoing. airberlin is expected to cease scheduled long-haul services from 15-Oct-2017 and cease all remaining air services from 28-Oct-2017. The airline announced it will no longer be a member of oneworld on 11-Oct-2017, but will continue interline operations and member services until the planned cessation.
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