Air Berlin Insolvency

Air Berlin Files for Insolvency but Flights Continue - BBC

Excerpt from BBC

Flights at Germany's second-largest airline will continue thanks to a loan from the government.

Air Berlin, Germany's second-largest carrier, has filed for insolvency, after its main shareholder Etihad declared it would not be providing further financial support.

The airline, which has accumulated debt for almost a decade, reported a record loss of 782m euros (£713m) in 2016.

Flights will continue to operate thanks to a transitional loan of 150m euros from the German government.

Its main rival, Lufthansa, is in talks to buy part of the Air Berlin Group.

Air Berlin's passenger numbers have been in freefall: in July, the airline lost a quarter of its customers compared with the previous year.

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