Air Berlin seeks partner, Lufthansa a possible choice

Jun 09, 2017: Thomas Winkelmann, CEO, Air Berlin has confirmed the ailing German carrier must find a strategic partner this year. Talking to a weekly newspaper Winkelmann said, "We have to find a partner in 2017, and Lufthansa is one of a few possible. I examine everything that makes sense for Air Berlin and secures jobs in the long term."

Winkelmann commented after the recent media report which stated that Air Berlin's largest shareholder Etihad Airways was looking to bring in financial advisers to help it to decide the fate of its 29.2 percent stake. Air Berlin's largest shareholder Etihad Airways was looking to bring in financial advisers to help it to decide the fate of its 29.2 percent stake.

According to the media reports Carsten Spohr, chief executive officer, Lufthansa Group has confirmed his carrier's interest in Air Berlin albeit only once its rival's EUR1 billion+ debt overhangs has been resolved. Lufthansa Group has already entered into a commercial partnership with Air Berlin with the latter wet-leasing thirty-three A319-100s and A320-200 aircraft to Eurowings and five A320-200s to Austrian Airlines.

During the last quarter, Air Berlin recorded widening 1Q losses of EUR 293.3 million (USD 328 million) up 60 percent from the EUR 182.3 million loss recorded for the same period in 2016. For its part, Alitalia has filed for bankruptcy amid current liabilities of around EUR 2.3 billion (USD 2.6 billion) and assets worth EUR 921 million (USD 1.04 billion).