After years of the Contagion, the second largest German Airline is now at the end. For a few weeks, the state still helps. Then the fur is distributed. Henrik Böhme hopes on wise decisions in the interest of employees.
As on the last Friday of the agreed credit tranche of EUR 50 million by major shareholder Etihad is not on the account of Air Berlin arrived, and were heard at the headquarters of Germany’s second largest Airline the alarm bells. Since, at the latest, it was clear that the sheikhs of Etihad Airways, had turned off the money tap in the direction of Berlin. This is not really surprising, because Etihad – module, together with Emirates and Qatar to the high-Flyers from the Persian Gulf – has enough problems. Etihad’s strategy is to participate in competitors, who are stuck in financial difficulties, with a crash failed.
A Gigantic Mountain Of Debt
Henrik Böhme, DW-business editorial
Maybe the calculus was behind it, to weigh in on the competitors in this way, in safety, and then by the outstretched Arm starve to death. And finally, the remnants to collect and take over the routes. But with Air Berlin and Alitalia, which is now in both cases, the taxpayers have to step in, had incorporated two real money-burning machine. Alone, Air Berlin pushes a mountain of debt of 1.2 billion euros. Etihad has since 2011 – as long as one is involved in the Berlin – over 1.5 billion euros into its ailing subsidiary invests. Without tangible success, to see how it is now. The sheikhs had promised in the spring, in writing, to remain at least one and a half years on Board. Nothing was out of it.
Each passenger is flown in the past few months with Air Berlin, was able to see and experience for themselves how bad it was to Air Berlin’s flight cancellations, massive delays, flights rented, sometimes bizarre Airlines, were on the agenda. It also damages claims in the millions are likely to lie on the table.
“Everything under control”? Puff cake!
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At the shareholders ‘ meeting of Air Berlin in mid-June in London, the Management was still on good weather. In the run-up been intense speculation had made the round of the precarious situation of the Airline, guarantees the public the speech was. Everything half as wild, we have the matter well in hand, the calming pills distributed to the shareholders. A Bust? “Not an issue for us!”. And now, not two months later, the revelation. K. O-drop, instead of calming pills. How blind the Management was not to see how bad it was for the parent company, Etihad then?
So now the taxpayers must once again ran. 150-million-Euro guarantee, would otherwise have had to Air Berlin immediately his flight. In the middle of the holiday season! This Chaos, to save the traveller, it should at least be a plausible reason why the Federal government has agreed to guarantee. At Air Berlin the many strategic mistakes that were made over the years to take revenge now. With each decision, and each head exchange, it was worse. Somewhere stuffed in a hole, created at least two new problems.
Now the fur of the bear. Lufthansa, which has already hired 38 machinery, including crews of Air Berlin, will now look at what is still usable, and the usable leftovers is probably the low-cost airline Eurowings strike. It remains to hope that, of the 8500 employees, of which a few have most of this entrepreneurial Disaster to blame, as many as possible in wages and bread. The 150 million state guarantee would have sense.
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