Monday, December 5, 2016

Air Berlin – Etihad jumps back – Sü

makes it easier for The large shareholder will pay 300 million euros for a stake in the subsidiary Niki – the redevelopment.

Jens Flottau, Frankfurt

The Etihad Aviation Group secures Air Berlin with a further injection of capital, once again, the Survive – at least for a time. The major shareholder in the Emirate of Abu Dhabi bought the financially ailing Air Berlin and its Austrian subsidiary Niki and pays for it according to its own figures, 300 million Euro. The competition should be agreed by authorities, is now also the founding of a new Airline network made up of Niki and Tuifly nothing in the way.

Etihad had decided to take the heavily loss-making Air Berlin in three parts, to split, a process that takes several months. You nachschießt now, before, once again, money, power, the extent of the economic difficulties. Etihad pays for Niki is a multiple of the actual value: Air Berlin as a whole had given their precarious position on Monday with a market capitalization of only 68 million euros. The 300 million correspond to more than four times the consolidated value, even though Niki with a fleet of 20 flight only a fraction of witnesses is also part of the group.

Etihad had happened in the past. So she had bought Air Berlin in 2012, a majority stake in the Topbonus frequent flyer programme for 184 million euros and a bond of the German subsidiary in the amount of 300 million euros with indefinite maturity drawn. In one Form or another Etihad has invested more than a billion euros in Air Berlin, without that this would have ended the period of crisis of the company. Etihad has a market share of 29.2 percent in Air Berlin.

With the additional injection of capital, the way is now clear for the establishment of the new holiday airline Tuifly and Niki. Etihad does not want to keep the proportion of Niki, but brings him directly into the new joint venture. The holiday Airline, project name, Blue Sky, will have a fleet of around 60 machines. Etihad participates in the company with 25 percent, and the travel group Tui will hold 24.8 percent. 50.2 percent does not control or endorse the Niki private Foundation that has so far kept formally, the majority of Niki, in order not to endanger the Austrian traffic rights. President of the Foundation is currently Air Berlin CEO Stefan Pichler, is but to give the Niki Item with the completion of the transaction.

Tui brings in the new composite, the 14 aircraft that Tuifly had been rented, together with the crews on Air Berlin. This Arrangement had also contributed to the economic difficulties of Air Berlin, because the conditions for the Airline were extremely unfavorable. The new leisure airline is to start operating in April 2017 and from numerous German, Austrian and Swiss airports to destinations in the Balearic and Canary Islands, the Spanish mainland, as well as in Greece, to control. The official seat of the company shall be Vienna, Austria.

For Air Berlin means the transaction is a short-term relief, but not the long-term Survival. As a second step, the Airline wants to lease 40 machines to Lufthansa, which wants to use at the subsidiaries eurowings and Austrian. Air Berlin and Lufthansa have both the objective of the negotiations in December to complete, however, you were with your positions, as we Heard last. Both also have a strategic interest in the business: the airline wants to limit the free Development of low-cost airlines such as Ryanair and Easyjet in Germany, Air Berlin plans to reduce Overcapacity and in desperate need of a reliable source of income.

Air Berlin will operate at the end of a fleet of about 75 aircraft. The company was developing “step-by-step, to a network Carrier with a focus on intra-German and European traffic, with a connection to our hubs in for the long haul to Berlin and Düsseldorf,” says Airline CEO Pichler. However, the most important Alliance partner for long-now seems to be stretching on the North Atlantic jump to American Airlines has announces the according to reports, the cooperation for the next summer flight plan.


No comments:

Post a Comment