Economy

Air Berlin must stop flights by October 31

Air Berlin must stop flights by October 31”

When the company filed for insolvency in August, a spokesperson for Air Berlin told IBTimes UK its flights would continue to "operate as normal" as the German government had stepped in to provide a temporary bridging loan.

About 1,400 Air Berlin workers may soon be out of a job, some as early as the end of this month, according to a union paper obtained by AFP on Saturday.

The news comes after easyJet recently emerged as one of the preferred bidders for the assets, along with Lufthansa, with other parties interested in parts of Air Berlin reportedly including British Airways parent International Consolidated Airlines Group (LON:IAG) and Thomas Cook's Condor.

However, flights operated by subsidiaries Niki and LG Walter will continue, as neither carrier is insolvent.

Lufthansa has said it plans to hire up to 3,000 people for the expansion of Eurowings, anticipating an accelerated hiring process for Air Berlin workers.

Those operations also include access to take-off and landing slots at Air Berlin's hubs in Tegel and Duesseldorf. The company may not be gone forever, though, as Lufthansa is considering taking over Air Berlin's operations.

If you were too good at planning ahead, and bought your ticket before Air Berlin filed for insolvency, you are what the industry calls S.O.L., because those tickets can't be reimbursed due to insolvency regulations and rebookings on other airlines are not possible, according to the website.

However, a newspaper reported on Monday that talks with easyJet may not result in a deal after the British carrier reduced its offer.

One of the oldest United Kingdom airlines' Monarch ceased operations last week, after canceling over 300,000 bookings.

EasyJet has already encouraged crew made redundant by Monarch last week to apply for positions at the budget carrier.

Winkelmann and Kebekus said in their letter that Air Berlin will have to stop flying by the end of October amid proceedings to settle with creditors and distribute assets to buyers.



Like this

loading...
loading...

Latest


09 October 2017
Kim Kardashian Reveals How Body Shaming Is Giving Her Body Dysmorphia
The trip proved to be an emotional rollercoaster ride for Kim, so much so that Kourtney joked she "won't be invited" next time. She said she's become "socially awkward", and that she would rather enjoy the "chill life" of staying at home.

09 October 2017
Fire Devils in Portugal
The deadliest fire in Portugal's history killed 64 people in June when it devastated the central region of Pedrogao Grande. Wildfires in Portugal this year have accounted for more than one-third of the burnt forest in the entire European Union.

09 October 2017
Whitney Mercilus out for season
He will miss the final 11 games of the regular season. "I feel awful for the guy", Texans head coach Bill O'Brien said. According to the Houston Chronicle , he is due to undergo season-ending surgery to fix a torn pectoral muscle.

09 October 2017
Snow falls in Denver, with threat of power outages and slushy roads
Temperatures were expected to drop rapidly Sunday evening, followed by heavy snow later Sunday night and into Monday. Further to the northwest, mountain passes near Steamboat Springs saw several inches of snow.

09 October 2017
GM Advances Self-Driving Tech With Strobe Acquisition
Lidar sensors supplement radar and cameras and are needed for autonomous cars to function in conditions with poor visibility. Deal terms were not disclosed, and GM did not immediately respond an inquiry about details.

09 October 2017
OPEC compliance with cut deal exceeds 100% in Sept.: Zanganeh
The accord has already been extended once at OPEC's last meeting in May, but producers have so far balked at a larger cut. Last week's figure also beat the previous record set by exporters, which was hit in the previous week, at 1.5 million bpd.

09 October 2017
Democrat Ralph Northam Maintains Lead Over Republican Ed Gillespie in New Poll
Three percent of voters polled in the survey chose Libertarian Cliff Hyra, and 6 percent said they were undecided. In a poll conducted late September, Northam held a slightly smaller lead over his opponent, 47 to 41 percent.

09 October 2017
Analytical Overview of Starbucks Corporation (SBUX)
It improved, as 68 investors sold SBUX shares while 409 reduced holdings. 104 funds opened positions while 473 raised stakes. L And S Advsrs Incorporated invested in 28,350 shares or 0.29% of the stock. 22,270 are held by Edgewood Mgmt Ltd Liability.

09 October 2017
Kim Kardashian West wants to hire 'four more security [guards]'
According to the site's Kardashian sources, Kourtney "thinks it's genuine and feels good that he's moving on". I'm in the spotlight, you go out in public and people can takes pics - it's not that annoying part".

09 October 2017
Cullen Frost Bankers Inc. Buys 41319 Shares of Comcast Corporation (CMCSA)
Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Following the sale, the senior vice president now directly owns 725 shares of the company's stock, valued at $28,717.25.