airberlin has been busy negotiating to salvage assets from the bankruptcy but public trust in the airline has evaporated rather quickly (unsurprisingly).
It now appears the management expects the airline to stop flying by October 28th.
The airlines has 137 planes left. Lufthansa is said to be close to s deal to take over 93 for $200 million (most planes are leased not owned) and Easyjet likely can take over 30 for a sum around 50 million.
Once those transactions close (and are approved by the German and Eu authorities) the airline has likely no planes left anyways. It will be close to impossible to sell tickets anyways as more than 100,000 passengers have bought tickets that can never be flown.
Germany is a cash society (like Japan) and credit cards are rather unusual. Unless you bought tickets through a tour operator (who need mandatory insurance) most passengers have no recourse besides suing the bankrupt airline.
airberlin is due to pay back a ‘bridge loan’ by Dec 4th of 150 million euro. It does not seem likely that it will get repaid in time (or ever).
airberlin Technik is another asset the company aims to monetize but hasn’t found a decent bid yet.
The most likely outcome is a complete stop of operations before the end of the year. I hope Etihad will keep the topbonus program running.
About the author: Torsten is a serial entrepreneur who started almost a dozen ventures on four continents.
Torsten's love for travel has brought him to 130+ countries and travel with most of the world's airlines.
You can reach Torsten at [email protected]
This post has been tagged with: airberlin | airline | airlines | bankruptcy | credit | credit cards | Etihad | Germany | Holidays Inn | hotel booking | Japan | lufthansa | negotiating | Photo Review | Traveling
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