Air Berlin: the German government demanded a pace

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Air Berlin wants to share the sale of operating soon in a dry cloth – because even the Federal government makes pressure: the Case of the Acquisition of individual areas of rapidly results should be achieved.

“All Parties are now called on to quickly, but to negotiate some form of detention,” said state Secretary for Economic Affairs Matthias Machnig, the Reuters news Agency. “We have initiated the state aid assessment of the bridging loan in the case of the EU-Commission already and go from their conformity, as well as a competition from a fair sale.”

The German government says Air Berlin in accordance with the application for insolvency a bridge loan of 150 million euros, so that the operation can be continued.

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Negotiations with three rivals

The insolvent Airline is negotiating with three other listed rival about a Takeover of parts of business. “In addition to the German Lufthansa, we are with two other prospects from the air travel in contact,” said Air-Berlin-Chef Thomas Winkelmann, the “Frankfurter Allgemeine Zeitung” (FAZ). The Takeover of Parts of the Air Berlin with the Austrian subsidiary, Niki. The company, which for weeks will be discussed, to be “in financial terms reliable, the volume is sufficiently large to provide Air Berlin with a secure future, and would also be the interest to continue to operate from its base in Germany.” Name he called.

According to insiders, Easyjet is one of the interested parties. In addition, the travel group Thomas Cook had declared that he and his holiday airline subsidiary Condor are also ready for an “active participation in the future of Air Berlin”. Also, the tourism group TUI, whose daughter TUIfly handles flights for Air Berlin, acted as a conversation partner. The Irish low-cost airline Ryanair has the chequered flag. The Takeover will go quickly, as you would have a fair Chance, said CEO Michael O’leary to Reuters.

Agreements in September?

Winkelmann wants to have to hit the “FAZ”according to a report in September, with two or more buyers are legally robust arrangements to secure the operation of the Central units of Air Berlin and the largest part of the workforce. Time is of the essence, because the bookings are threatening to break down in the face of insolvency. “All the jobs are, however, not be save in accordance with this agreement,” quoted the FAZ Winkelmann. Air Berlin employs in Germany, around 7200 people, 1000 of which are in administration and 850 in the art subsidiary.

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The rise and fall of Air Berlin

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Timeline: the rise and fall of Air Berlin

A report of the “süddeutsche Zeitung”, according to Lufthansa will take up to 90 of the 140 aircraft of Air Berlin and its Austrian subsidiary Niki completely. A conclusion could already be in the coming week achieved, writes the newspaper on Thursday in advance citing company circles. “Everything goes smooth, so Air Berlin could be decomposed in September and not in November.” Lufthansa would like to be “ideally” around 90 aircraft and under their own cheap brand Eurowings operate, it said in the report. You’ve rented 38 with the crews. To Niki, which operates 20 aircraft, and is not insolvent, draw a bidding war, the newspaper reported. Also, the British Easyjet will said to have interest in Niki.

For sale, takeoff and landing rights (Slots). From the proceeds of 150 million euros, the heavy mass of credit to be repaid, the Federal government wants to ensure the operation of Air Berlin in the next three months. His aircraft, Air Berlin has a fleet of leased only. “We are very confident that we will achieve with the sale of business units and the associated landing rights revenue in an amount in excess of the financial assistance granted,” said Winkelmann. The Slots were the end of 2016, with 80 million euros in the balance sheet of Air Berlin.

Lots of Slots at Düsseldorf airport

Sought-after, especially the Düsseldorf airport is likely to be, where Air Berlin holds around a third of the Slots. “It is particularly important, because the Slots are there for environmental reasons, is very limited and because it offers lukrativeres business for Lufthansa,” said aviation consultant John Strickland. As an obstacle for the market leader could be the anti-trust rules. Lufthansa carries 68 percent of all domestic flights, Air Berlin comes to 27 percent. The possible hurdles for the Lufthansa with the Takeover of slot-loaded the shares of the airline, which listed on the pre-market percent…. In the morning, the title traded 0.3 percent in the Minus.

The Slots of Niki were not taken into account in the balance sheet for 2016. The Austria-daughter is supposed to go to the Arab large shareholder Etihad, which had paid for it already 300 million euros to Air Berlin. The money is likely to be lost in the bankruptcy. Winkelmann made it clear that Niki still belong to Air Berlin. According to the report, a similar approach is for Niki is possible as in the case of the 30 aircraft of Air Berlin, which went to Lufthansa and its subsidiary Eurowings.

ul/hb (rtr, dpa)