BERLIN - The German carrier airberlin has filed to begin insolvency proceedings under self-administration at a local district court in Berlin. The airline said that the move was made in order to continue with a restructuring process that was already underway.
The insolvency filing came following notification by Etihad Airways that the Persian Gulf carrier no longer intends to provide airberlin with financial support. Etihad is the largest shareowner in airberlin, owing 29 percent of the carrier.
The German government is supporting airberlin with a bridging loan that will enable the airline to maintain flight operations over the long term. Airberlin said that Lufthansa, with which it has codeshare agreements, is supporting it in its restructuring efforts, as are other of its partners.
Meanwhile, all flights operated by airberlin and its NIKI affiliate are to continue as planned. The carrier said that all bookings and flight schedules remain valid, and that tickets on all flights can still be booked.
According to airberlin, negotiations are ongoing with Lufthansa and other partners regarding the possible acquisition of airberlin business units, and that these negotiations may be finalized shortly.
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