1. Troubled Air Berlin in talks to transfer planes to new airline

Troubled Air Berlin in talks to transfer planes to new airline

German airline Air Berlin said today it would discuss transferring part of its fleet to a new group founded by package tour giant TUI and Gulf carrier Etihad as part of a major overhaul.

By: | Frankfurt | Published: October 5, 2016 3:56 PM
Air Berlin will discuss bringing 35 of its aircraft, including 14 already leased from TUI subsidiary TUIfly, into a "new airline group to be founded by the TUI group and Etihad", it said in a statement. (Reuters) Air Berlin will discuss bringing 35 of its aircraft, including 14 already leased from TUI subsidiary TUIfly, into a “new airline group to be founded by the TUI group and Etihad”, it said in a statement. (Reuters)

German airline Air Berlin said today it would discuss transferring part of its fleet to a new group founded by package tour giant TUI and Gulf carrier Etihad as part of a major overhaul.

Air Berlin will discuss bringing 35 of its aircraft, including 14 already leased from TUI subsidiary TUIfly, into a “new airline group to be founded by the TUI group and Etihad”, it said in a statement.

The plans remain subject to negotiation and regulatory approval, the statement continued.

In a separate statement, Etihad said “the new airline group would serve a comprehensive route network from Germany, Austria and Switzerland”.

Air Berlin shareholder Etihad has kept the struggling airline alive with regular cash injections in recent years.

The German company suffered a record loss of 447 million euros (USD 500 million) in 2015.

Air Berlin a week ago announced a major restructuring that would see it shrink its fleet from 144 planes to 75 and cut 1,200 jobs, saying it would focus on its core business areas in a bid to return to profitability.

In future, Air Berlin said it would concentrate on its hubs of Berlin and Duesseldorf, building out long-haul routes with new destinations and more frequent flights, especially to the United States.

Please Wait while comments are loading...

Go to Top