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   Vol. 16 No. 65
Tuesday August 15, 2017

Air Berlin Goes Bust

Air Berlin Goes Bust

  On Tuesday, Air Berlin said that it has filed for insolvency proceedings after its main shareholder Etihad Airways said it "would not provide any further financial support."
  Etihad had reported huge losses in 2016, and sees its two major European airline investments—Air Berlin and Alitalia on the financial rocks, with both seeking bidders for their business.
  Air Berlin reportedly has secured a bridging loan to keep operations aloft, while bidders are sought.
Jonathan Wober  Jonathan Wober, analyst at CAPA-Centre for Aviation, told Reuters"Lufthansa has played a canny waiting game over a number of years and is now well-placed to cherry pick those parts of Air Berlin's operation that suit it best without buying the whole loss-making enterprise."

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