Air Berlin files for insolvency

Air Berlin, Germany’s second largest airline, has filed for insolvency after its main shareholder, Etihad Airways, said ‘no’ to further financial support.

Air Berlin will continue to run services as the German government has arranged a loan through Kreditanstalt fuer Wiederaufbau which should see the company through until November at current bleed rates, or until it is broken up and sold off to the likes of Lufthansa, which has been waiting for just such an opportunity to by buy assets and routes on the cheap.

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