Economy

Easyjet's swoop on Air Berlin could build on position in German capital

Easyjet's swoop on Air Berlin could build on position in German capital”

EasyJet has bought part of Air Berlin's operations at the German capital's Tegel airport for €40 million (£35.3 million).

Shares in Easyjet rose by nearly 2 per cent as investors showed that they were on board with the €40 million agreement that the airline says will help it to become the leading airline in Berlin.

According to the BBC, the deal will save 1,000 jobs for both pilots and cabin crew, while EasyJet will gain landing slots at Berlin's Tegel Airport, as well as leases for 25 A320 aircraft.

It already operates flights from Berlin's Schonefeld airport.

The share price rise made it one of the best-performing stocks on the FTSE 100.

Air Berlin, Germany's second-ranked airline employing some 8,000 people, triggered bankruptcy proceedings in August after its biggest shareholder Etihad Airways pulled the plug on a cash lifeline following years of losses.

"With Monarch also being carved up, there will be more scraps to fight over for the stronger carriers to cement their position".

The carrier said it would announce new routes and services to and from Tegel in due course.



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