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airberlin files for administration

airberlin flight startairberlin, Germany's second-largest carrier, has filed for administration after its main shareholder, Abu Dhabi-based Etihad declared it would not be providing further financial support. Etihad’s statement as follows:

“This development is extremely disappointing for all parties, especially as Etihad has provided extensive support to airberlin for its previous liquidity challenges and restructuring efforts over the past six years.

“In April this year, Etihad provided EUR 250 million of additional funding to airberlin as well as supporting the airline to explore strategic options for the business. However, airberlin’s business has deteriorated at an unprecedented pace, preventing it from overcoming its significant challenges and from implementing alternative strategic solutions.

“Under these circumstances, as a minority shareholder, Etihad cannot offer funding that would further increase our financial exposure. We remain open to helping find a commercially viable solution for all parties.

“We expect airberlin operations to continue during administration. We have a commercial relationship with airberlin across a range of areas, including codeshare operations, and we will support airberlin’s management during these difficult times.

“Germany is an important market for Etihad and Abu Dhabi, and we remain committed to providing comprehensive air links as a key enabler of trade and tourism.”

Meanwhile, oneworld announced that airberlin continues to operate as part of oneworld.

Germany’s federal government is supporting airberlin with a bridging loan to maintain flight operations for the long-term.

airberlin states that this means:

As such, airberlin and NIKI remain as part of oneworld and continue to offer the alliance’s usual services and benefits.