“Wet Lease”: Air Berlin gives fliers without owning what – THE WORLD

There is a diverse lending, noticed by plane passengers only slightly. Although Anyone booking for example a flight from Cologne to Boston with Lufthansa-frills airline Euro Wings climbing into an airplane with Euro Wings lacquered. In fact, the plane belongs to the fleet of Turkish airline Sun Express, which also provides the crew. According to this model flew in winter TUIfly aircraft under Euro Wings paint – and perhaps in the future also Air Berlin aircraft for Lufthansa Euro Wings

Photo: Getty Images / Getty Images Europe In a” wet lease “with Air Berlin Lufthansa-Euro Wings could additional routes secure

Under the slogan “Wet lease” there are in the aviation industry a lively barter for aircraft crews , routes and thus indirectly also a gray market for aircraft landing and rights. About this model the economically crippled airline Air Berlin could possibly be supported is to hear in the industry. Air Berlin could rent to the Lufthansa aircraft and crews that do not pass through the turnstiles Dusseldorf and Berlin – for example via Hamburg and Nuremberg.

The “Handelsblatt” reported on the possible acquisition of 40 aircraft with crew. Its special features include that Air Berlin meanwhile does not own a single aircraft more than the owner, but the machine has in turn leased itself. Therefore, is still open how the model might look like in practice.

Coveted off and landing rights

For the speculation of a partial takeover by Air Berlin routes with aircraft by Lufthansa subsidiary Euro Wings will manifest itself by the parties no. “Perhaps you can continue on Euro Wings the Air Berlin airplane book to Mallorca,” says an industry insider.

About the “wet lease” could antitrust issues the two major German airlines are more easily handled, as if there were a real sale. The coveted takeoff and landing rights at airports could be taken in this way. Lufthansa Euro Wings would thus secure routes. Only in the theoretical case of Air Berlin bankruptcy these rights would then on the market.

The crippled airline Air Berlin, which in the first quarter alone 737 million euros in sales completed with 180 million euros loss and over 850 million euros of debt has, enjoys every intake.

exemptions for Etihad

Air-Berlin-major shareholder Etihad Airways could be the role for a separation of stretches of Germany’s second largest airline with 100 aircraft then expand as large passenger-feeder for Etihad.

The Etihad’s stake in Air Berlin has always been considered a sort of Trojan horse to get more takeoff and landing rights beyond the existing aviation agreement. That the federal government repeatedly granted exemptions, was followed also critical in Brussels. The exceptions to the code sharing now run though out.

On the owner side Etihad hands are tied at Air Berlin. If the equity share from almost 30 percent above the threshold increases, a takeover offer to the remaining shareholders would be made. Air Berlin would then probably no longer majority in German hands, which would curtail the landing rights in Germany. Also at Lufthansa, the German share is checked regularly. At mid-year, 65 percent were German investors and nearly 18 percent US-owned.

Euro Wings wants to place the low cost airlines in Europe

with a takeover by Air Berlin routes and aircraft Lufthansa CEO Carsten Spohr would turn closer to his goal, through the expansion of Euro Wings fleet to roughly 230 aircraft to number three in the European low-cost giant ascend by Ryanair and Easyjet. In January Euro Wings totaled one million passengers still in sixth place. Currently, Euro Wings has only access to about 90 aircraft, which are used both on long journeys as short-haul.

The market has responded quickly to the speculation. The Air Berlin shares rose temporarily above 20 percent – but at an extremely low level of only 70 cents. As Air Berlin went public a decade ago, the issue price was twelve euros. The Lufthansa share however, lost easily.

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