Economy

Lufthansa To Get Lion's Share Of Air Berlin Fleet

Lufthansa To Get Lion's Share Of Air Berlin Fleet”

FRANKFURT-Air Berlin's creditor committee is favoring the transition of a large part of the carrier's fleet to Lufthansa, industry sources said September 21.The body met for a preliminary selection of bidders for the airline's assets.

Lufthansa's focus is on securing the 38 crewed planes it now leases from the insolvent carrier, plus it would like up to an additional 20 to 40 planes, Carsten Spohr said at a media event late on Wednesday.

"Wet-leasing" refers to airlines leasing aircraft from each other rather than a leasing company.

"The next days will show if we reach these 20 to 40 planes through organic growth at Eurowings or the potential transaction with Air Berlin", Mr. Spohr said.

The airline believes that would be the maximum number competition authorities are prepared to accept.

The Lufthansa low cost unit said it will meet the Vereinigung Cockpit union to agree a collective agreement for additional pilots.

Air Berlin is Germany's second-biggest airline after Lufthansa.

A creditor committee meets on Thursday afternoon to discuss offers for Air Berlin, which filed for insolvency in August after major shareholder Etihad pulled the plug on funding.

Creditors will hold exclusive negotiations with Lufthansa until October 12, the sources said, which means Air Berlin's board may not make a final decision on September 25 as had been expected.

It could not immediately be learned what parts of Air Berlin IAG has bid for. "So much for the idea of a "monster", he said in a swipe at the Ryanair boss.

Looking to the future of the European airline industry, "one of the most fragmented sectors you can imagine", Spohr expects Lufthansa to play "an active role" in an expected wave of consolidation.



Like this

loading...
loading...

Latest


22 September 2017
Nine Inch Nails, Thom Yorke, Solange to Headline Day for Night Festival
Entering just its third year, Houston's Day For Night festival has quickly asserted itself as an inspired voice in the industry. The festival will see headliners of a powerhouse and diverse group of performers across four stages.

22 September 2017
(Audio) NU Starts Search For New Athletic Director
Eichorst hired Riley in 2014, replacing Bo Pelini. "We can and should win in that kind of environment". He became the school's assistant athletic director two years later and held that role until 1998.

22 September 2017
Two more men arrested over London tube blast
An 18-year-old man who was arrested in Dover remains in police custody over the terror attack . The metal police cordon erected around the front of the house in Sunbury-on-Thames, Surrey.

22 September 2017
Plains All American Pipeline, LP (PAA) Holdings Cut by Oppenheimer & Co. Inc
Moreover, Beach Inv Management Ltd has 1.04% invested in Plains All American Pipeline, L.P. (NYSE: PAA ) for 18,818 shares. Fincl Architects Incorporated invested 0.02% of its portfolio in Plains All American Pipeline, L.P. (NYSE: PAA ).

22 September 2017
Matthew Broderick joins Fox's 'A Christmas Story Live!'
Fox's live musical, set to air Sunday, Dec. 17 at 7 p.m., is based on the feature and subsequent Broadway musical. The musical rendition of "Christmas" story had a short Broadway run in 2013 and has fielded touring productions.

22 September 2017
Real Madrid start of the season concerning and alarming, says Sergio Ramos
At one point the Real Madrid star started to blame the state of the Bernabeu pitch and threw up his arms in frustration. That unpredictability is what makes football so appealing. "We have just played a great game [3-1 at Real Sociedad]".

22 September 2017
Body found in search for missing Libbi Toledo, aged 17
The conference was due to take place at 2.30pm at Kirkcaldy Police Station and include an appeal from Libbi's mum, Judi. Following the discovery, police said the death of the woman was being treated as unexplained pending further inquiries.

22 September 2017
Trump announces new measures targeting N. Korean trade networks
It also targets vessels that have been in a ship-to-ship transfer with a vessel that has visited North Korea within 180 days. Trump's remarks followed the North's sixth and apparently most powerful nuclear test so far, staged September 3.

22 September 2017
Zinedine Zidane "glad" to have Cristiano Ronaldo back
Speaking at a recent press conference, the Frenchman was effusive about the Welshman, who was booed in last week's Champios League fixture with APOEL Nicosia.

22 September 2017
Stereotypes affect how girls behave
Almost half - 47 per cent - of girls interviewed said that gender stereotypes affected how much they participated in lessons . The majority of questions were completed online and the questionnaire was partially adapted for different age groups.