three airlines jostling for air berlin assets ceo
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Three airlines jostling for Air Berlin assets: CEO

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Three airlines jostling for Air Berlin assets: CEO

Insolvent Air Berlin
Frankfurt am Main - Al Maghrib Today

Air Berlin is in talks with three competitors about buying up its assets, the insolvent airline's boss said Thursday, warning that not all jobs would be saved.

"Aside from Lufthansa, we are in contact with two other interested parties from the aviation industry," Air Berlin chief executive Thomas Winkelmann told the Frankfurter Allgemeine Zeitung daily.

The negotiations have been going on for weeks, he said, and all three airlines were financially sound and large enough "to offer Air Berlin a secure future" while keeping Germany as an operations hub.

He did not name the other two airlines, but German media have speculated that EasyJet and Thomas Cook subsidiary Condor are the other parties.

Contacted by AFP, Condor said it stood ready to play "an active role" in the restructuring of Air Berlin. EasyJet declined to comment.

Air Berlin filed for insolvency on Tuesday after main shareholder Etihad Airways suddenly pulled the plug on years of financial support for the loss-making airline.

In a controversial move, the government stepped in with a 150-million-euro ($170-million) bridging loan to keep Germany's second-largest airline flying for the next three months, saying it did not want to leave holidaymakers stranded.

German flagship carrier Lufthansa is aiming to take over 90 of Air Berlin's 140 planes and operate them under its low-cost Eurowings brand, the Sueddeutsche Zeitung reported, citing sources close to the talks.

The number includes the 38 aircraft Lufthansa is already leasing from Air Berlin, as well as the roughly 20 planes operated by Austrian subsidiary Niki, the newspaper said, adding that a deal could be sealed "in coming weeks".

Speaking to the Frankfurter Allgemeine, Winkelmann said he aimed to reach agreements with at least two of the interested buyers in September, with Air Berlin's landing rights considered particularly valuable.

"But we won't be able to save all jobs," the paper quoted Winkelmann as saying.

The airline, sometimes dubbed the "Mallorca shuttle" for its popularity with German tourists headed for Spanish beaches, employs some 8,000 people.

It has long battled for survival, booking losses amounting to 1.2 billion euros over the past two years and relying on cash infusions from Abu-Dhabi-based Etihad.

An Air Berlin spokesman told AFP the company could not immediately say when it would announce its first-half results, originally scheduled to be released on Friday.

- 'Conspiracy' -

The government's intervention, just weeks before a September 24 general election, to keep Air Berlin in the air for now has come in for criticism.

Irish budget rival Ryanair has lodged complaints with German and European competition regulators, slamming what it called a "conspiracy" between the government, Lufthansa and Air Berlin to carve up the insolvent carrier's assets.

"If this unlawful take over goes ahead, we may struggle to get slots in major airports such as Berlin, Munich and Frankfurt where Lufthansa will have control on over 80 percent of the slots," Ryanair said in a statement.

The head of Germany's anti-trust commission, Achim Wambach, told the Rheinische Post newspaper that Lufthansa could expect "tough conditions" over its acquisition plans given that the country's largest carrier and Air Berlin were "direct competitors" on many routes.

The German government has fiercely defended its decision to help Air Berlin, with Foreign Minister Sigmar Gabriel saying the financial lifeline was needed to prevent 80,000 travellers a day from being stranded during the busy holiday period.

But a government official told the Handelsblatt financial daily the state aid was a clear example of electioneering.

"Eighty thousand stranded holidaymakers are almost 80,000 voters. That's how simple the political calculation is," the unnamed source said.

Source: AFP

 

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

three airlines jostling for air berlin assets ceo three airlines jostling for air berlin assets ceo

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

three airlines jostling for air berlin assets ceo three airlines jostling for air berlin assets ceo

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 10:48 2018 Sunday ,14 January

Tunisia mulls reforms after week of unrest

GMT 11:47 2016 Thursday ,10 November

Against South Africa in rugby Test

GMT 07:58 2017 Wednesday ,16 August

Singer Fares Karam will participate in Stars Ship

GMT 17:09 2017 Friday ,17 November

Israel ready to cooperate with Saudi

GMT 09:03 2017 Saturday ,06 May

Foreign policy: Where France's candidates stand

GMT 00:48 2017 Monday ,01 May

Ooredoo supports Reyooq initiative for SMEs

GMT 09:54 2018 Tuesday ,23 January

Russians challenge doping ban

GMT 08:15 2018 Saturday ,20 January

Macron boosts Merkel ahead of key coalition vote

GMT 11:37 2014 Tuesday ,03 June

For TV news, funny beats boring

GMT 13:26 2017 Monday ,28 August

Face scans, robot baggage handlers

GMT 11:32 2017 Thursday ,12 January

Targets top 10 with solid showing in Melbourne

GMT 09:14 2017 Wednesday ,18 October

Is facial recognition the stuff of sci-fi? Not in China

GMT 21:01 2017 Wednesday ,02 August

Monfils peaking for Citi defence, eyes US Open

GMT 14:32 2014 Thursday ,20 March

Algeria opposition MP quits ‘docile’ parliament

GMT 08:34 2017 Friday ,10 March

Hounded out: battle to save beloved British dogs

GMT 19:08 2011 Friday ,09 December

Hemed shines as Mallorca rally to beat Granada

GMT 03:02 2017 Saturday ,07 January

Serena Williams displays huge diamond ring

GMT 08:27 2017 Wednesday ,01 November

Japan killing spree 'lasted 2 months'

GMT 10:33 2015 Wednesday ,17 June

Escaped lion from flooded Georgia zoo kills man

GMT 13:57 2017 Wednesday ,13 December

Pistorius injured in prison brawl over phone

GMT 06:07 2017 Tuesday ,14 February

Rain hits UAE, major traffic jams follow
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday