Air Berlin: Lufthansa looking to buy 12 long-haul planes; Germania asks court to block bridge loan from German government - report
30 AUG 2017
The German airline Lufthansa [ETR:LHA] plans to buy about 12 long haul-aircraft and the related transatlantic routes from the insolvent airline Air Berlin, according to a newswire report. A Reuters report on Tuesday, 29 August cited a person familiar with the matter for the information.
Air Berlin, a German airline, this month declared itself insolvent and sought bankruptcy protection, the item noted.
At least six parties are working on offers for Air Berlin Assets by a deadline of 15 September, the item said.
The deadline for offers for Air Berlin assets is 15 September, a spokesperson for the German airline said. The report cited Air Berlin for the deadline date. Air Berlin’s approximately 140 leased aeroplanes and take-off and landing slots are for sale.
Lufthansa does not at present operate any long-haul routes out of Berlin and is particularly keen on buying Air Berlin’s routes to the US, according to the source cited by the report.
Lufthansa could buy up to 90 Air Berlin aircraft including 38 planes already leased by Lufthansa from Air Berlin and Air Berlin’s Austrian subsidiary Niki, according to a source cited by a Reuters report this month.
Separately, the article noted that Germania, a German competitor to Air Berlin, on Tuesday, 29 August began a legal action in an attempt to block the German government’s EUR 150m (USD 179m) bridge loan to Air Berlin pending approval of the loan by the European Commission.
However, Germania’s legal action will not prevent disbursement of the loan funds, according to the German economy ministry. A European Commission spokesperson cited by the report also believed that the loan will be approved.
Previous reports have said the UK-based budget airline easyJet [LON:EZJ] and Condor, a subsidiary of Thomas Cook[LON:TCG], could acquire the remainder of Air Berlin’s fleet.
Ryanair [LON:RYA], an Irish airline, has also previously indicated interest in buying Air Berlin, although Ryanair chief executive Michael O’Leary has said the Air Berlin sale process is being manipulated to favour Lufthansa.
Niki Lauda, a former motorsport driver, has indicated interest in acquiring Niki, as previously reported.
The private investor Hans Rudolf Woehrl wants to acquire Air Berlin outright, as previously reported.