Home » Economy » Despite Brückenkredit – At Air Berlin, the first flight failures soon threaten News

Despite Brückenkredit – At Air Berlin, the first flight failures soon threaten News

Wednesday, August 23rd, 2017 | Economy

The "Süddeutsche Zeitung" (Wednesday issue) reported that there was a risk that the insolvent airline would soon be able to stop parts of its flight operations, referring to insiders familiar with the situation. The controversial bridge credit of the state over 150 million euros is supposed to secure the flight operation for three months.
Air Berlin has access to this money but has no access to sales from advance bookings for future flights. "They land in a neutral account to ensure that customers get their money back if flights are canceled," the report said. This regulation clearly stifles the company's financial tightness, which, at the moment, no longer needs to pay a large part of the wages and also no longer have to pay the debts.
But the flight business still costs a lot of money – especially since many suppliers and airports now require prepayment. According to the SZ report, the impending flight cancellations intensify the pace of the negotiations on the division of the airline, which is already very high. This Wednesday, a week after the application for insolvency, the creditors are discussing the sale of the airline for the first time.
According to SZ information, the split should be decided. Negotiations were held for a declaration of intent to sell the Austrian subsidiary Niki to Lufthansa. The approval of the Committee was considered probable. Air Berlin had on Friday with the Lufthansa concrete discussions on the takeover of parts of the airline.
Other interested parties are Easyjet and the Thomas Cook subsidiary Condor. The German airline Tuifly of the world's largest travel company Tui is also interested in a solution for the airplanes and crews that has been lending them to Air Berlin and meanwhile its daughter Niki.


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