Lufthansa to buy large parts of bankrupt Air Berlin

FILE - In the Sept. 21, 2017 file photo an Air Berlin plane sits behind a Lufthansa plane in Tegel airport in Berlin. (Wolfgang Kumm/dpa via AP)

The German news agency dpa is reporting that Lufthansa CEO Carsten Spohr says the airline will sign an agreement to buy large parts of the bankrupt carrier Air Berlin

BERLIN — Lufthansa CEO Carsten Spohr said Thursday that the airline will sign an agreement to buy large parts of the bankrupt carrier Air Berlin, the German news agency dpa reported.

Spohr said that both airlines will sign the agreement later in the day in Berlin.

"Today is a big day, which we will seal in a few hours with a signature," he said.

Air Berlin declared bankruptcy in August following years of losses and the decision of its biggest shareholder, Gulf airline Etihad, to cease financing.

It had been in talks for weeks with Lufthansa and easyJet about selling parts of its business.

Air Berlin had been Germany's second-biggest carrier after Lufthansa. The airline carried some 80,000 people a day mostly on short-haul destinations. It made a loss of about 782 million euros last year.

After Air Berlin filed for bankruptcy, the German government gave the airline a 150 million euro government loan to stay afloat while it was negotiating possible deals with Lufthansa and others.

Earlier this week, dpa reported that the airline said in a letter to employees that flights under the airline code AB "according to the current state of things, will no longer be possible after October 28 at the latest."

The details of the purchase agreement have yet to be revealed.

Related News

AP Exclusive: The final days of the Ringling Bros. circus

May 17, 2017

Performers in the Ringling Brothers and Barnum & Bailey Circus will soon scatter to the winds

Eiffel Tower view: Paris tourism rises after yearlong slump

Feb 21, 2017

Tourism to Paris is showing signs of revival after a yearlong slump attributed to a string of deadly extremist attacks, weeks of violent labor protests, strikes and devastating floods

Oh the Places You'll Go! Dr. Seuss museum opens its doors

Jun 5, 2017

A museum dedicated to the beloved children's author Dr. Seuss is opening this weekend in his hometown of Springfield, Massachusetts

You may also like these

AP Exclusive: The final days of the Ringling Bros. circus

May 17, 2017

Performers in the Ringling Brothers and Barnum & Bailey Circus will soon scatter to the winds

Eiffel Tower view: Paris tourism rises after yearlong slump

Feb 21, 2017

Tourism to Paris is showing signs of revival after a yearlong slump attributed to a string of deadly extremist attacks, weeks of violent labor protests, strikes and devastating floods

Oh the Places You'll Go! Dr. Seuss museum opens its doors

Jun 5, 2017

A museum dedicated to the beloved children's author Dr. Seuss is opening this weekend in his hometown of Springfield, Massachusetts

World Clock
Latest News

About Me

Travel Stylo is an independent online travel website started by a group of friends who love traveling together. With Travel Stylo, you can travel with style.

Contact us: sales@travelstylo.com

Recent Posts