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EU greenlights state aid to Germany's Air Berlin
A 150-million-euro loan to wind-down the insolvent company
04 September, 15:27
(ANSA) - BRUSSELS - European Union anti-trust regulators
have approved Germany's plan to provide troubled low-cost
carrier Air Berlin with a 150-million-euro loan.
The European Commission said Monday that the loan "will allow for the orderly wind-down of the insolvent airline Air Berlin without unduly distorting competition", as AP reported. The Commission also said the move would help protect the interests of air travelers.
Air Berlin, Germany's second-largest carrier, said last month that it was filing for bankruptcy after its main shareholder, Abu Dhabi-based Etihad, decided to cut its financing. To allay travelers' fears they might be stranded on summer holiday, the government announced that it would provide a loan so the airline could continue flights for the time being.
(ANSA).
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The European Commission said Monday that the loan "will allow for the orderly wind-down of the insolvent airline Air Berlin without unduly distorting competition", as AP reported. The Commission also said the move would help protect the interests of air travelers.
Air Berlin, Germany's second-largest carrier, said last month that it was filing for bankruptcy after its main shareholder, Abu Dhabi-based Etihad, decided to cut its financing. To allay travelers' fears they might be stranded on summer holiday, the government announced that it would provide a loan so the airline could continue flights for the time being.
(ANSA).
