Published On: Wed, Oct 11th, 2017

Air Berlin – Flights ceases end of this month, leaving 8600 staff unemployed

airberlinDUSSELDORF - Air Berlin’s legacy comes to an End on October 28, 2017. All flights will cease to operate from Oct.28th, leaving around 8600 staff unemployed.

Bankruptcy filed German carrier Air Berlin will begin its liquidation proceedings and sell all its assets.

The West Berlin-based airline was set up in 1978 adopting a low-cost business model, went public in 2006. Air Berlin shares were trading at an all-time high of 20.28 euros in 2007 has declined to 0.21 euros in the last trading.

In August this year, Air Berlin went into insolvency administration when the Abu Dhabi-based Etihad Airways, its biggest shareholder, withdrew financial support after years of losses.

The talks with Lufthansa and easyJet are due to run until Thursday and once a deal for parts of its business has been agreed Air Berlin will have to wind down the rest of the operation. “After purchase contracts have been agreed, the company must end its own operations step by step,” Air Berlin said in a statement.

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