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  How are things going on at Air Berlin? | | Bit Updates
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How are things going on at Air Berlin? |

Wednesday, August 16th, 2017 | bitcoin updates

Frankfurt / Berlin (Reuters) – The future of Germany's second-largest airline, Air Berlin, depends on the thread. In the next three months, it will be necessary to decide what is left of the chronically deficient group. Major shareholder and financial backer Etihad had pulled the trolley last week and announced the financial support. This forced the board of Air Berlin on Tuesday to an application for insolvency. The most important questions and answers: HAT RYANAIR STILL A CHANCE? The Lufthansa and another airline – according to insiders the British Easyjet – are ready, the desired start and land rights of Air Berlin Such as in Berlin and Düsseldorf. "The plan is to divide the airplanes so that there is nothing left," said an insider. Air Berlin flies mainly to Berlin and Düsseldorf. "Lufthansa and Easyjet complement each other well." The talks were well advanced before the bankruptcy. The Irish low-cost airline Ryanair does not want to accept this easily. In the bankruptcy he has a better chance to get another foot in the door. This is because the board and administrator are then solely obligated to the creditors. "You have to make sure that nothing is given away." If Ryanair offers more for the rights, it will be difficult to get to it. What will be out of NIKI? The Austrian subsidiary is to be kept out of the insolvency. Etihad has already paid 300 million euros for the Niki shares of Air Berlin. But the airline belongs to Air Berlin because of the insolvency, the money is likely to be lost to the shareholder from Abu Dhabi. "The contract is considered to be pending ineffective," says an insolvency lawyer. WHERE ROLE PLAYS TUI The original plan of Etihad to merge Niki with TUIfly had failed. However, the holiday airline TUIfly flies for Niki with its own staff and leased aircraft. The German-British tour operator TUI has also booked passengers on Air Berlin flights. These two topics are also discussed in the discussions with Air Berlin. According to insiders, a takeover of companies by TUI is not currently under discussion. WHAT WILL BE FROM THE EMPLOYEES OF AIR BERLIN? Pilots and on-board staff are likely to have the best chances to get to Lufthansa or Easyjet. Lastly, Air Berlin's routes, which had previously been flown by Air Berlin, will continue to be served. However, Lufthansa is only likely to adjust it to the conditions of the low-flying subsidiary Eurowings. It is more difficult for the roughly 1,000 employees in the Berlin headquarters and the 850 employees of the engineering subsidiary. All 7200 employees in Germany receive an insolvency allowance from the Arbeitsagentur until October. Air Berlin was still paying its own salaries for July. WHAT IS THE EIHAD AND THE OTHER INVESTORS? From the proceeds from the planned sale of the start and land rights, the bulk credit of the state bank KfW will be repaid over 150 million euros. Whether that is enough is open. If not, the state will enter. What remains after this, first gets the employment agency. The subscribers to Air Berlin bonds are in all likelihood empty: their debtor is the British Air Berlin plc – which is a largely empty cover. Etihad does not just have to write off its almost 30 per cent share. The loans that the partner from Abu Dhabi Air Berlin have given may also be worthless. As shareholder loans, they are subordinated, ie served after all other debts.


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