airberlin has confirmed that it has filed for insolvency under self-administration in order to continue with a restructuring process that’s already underway.

The online announcement comes after Etihad said it would no longer be able to provide financial support for the airline after providing support over the last six years and contributing a further EUR250 million in funding in April this year.

An Etihad Spokesperson said the airline is “extremely disappointed” by the development but could not offer additional funding “under these circumstances”.

airberlin

“airberlin’s business has deteriorated at an unprecedented pace, preventing it from overcoming its significant challenges and from implementing alternative strategic solutions.”

Etihad Spokesperson

“Under these circumstances, as a minority shareholder, Etihad cannot offer funding that would further increase our financial exposure.

“We remain open to helping find a commercially viable solution for all parties.”

Etihad continued. saying that it will continue with its commercial relationship with airberlin and will support the airline’s management during “these difficult times”.

“Germany is an important market for Etihad and Abu Dhabi, and we remain committed to providing comprehensive air links as a key enabler of trade and tourism,” the spokesperson said.

Image: airberlin/Facebook

Image: airberlin/Facebook

Meanwhile, the Federal German Government, Lufthansa and other partners are working with airberlin to assist with its ongoing restructure plans.

They will also help the airline continue its flight operations, keeping its flight schedule valid, bookings valid and future flights can still be booked.

airberline’s statement also said that negotiations with Lufthansa and other partners regarding the acquisition of business units of airberlin are far advanced and highly promising. These negotiations may be finalised shortly.

“We are working tirelessly to achieve the best possible outcome for the company, our customers and employees, given the situation.”

Thomas Winkelmann, airberlin Chief Executive

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