Struggling German service Air BerLin says it is submitting for chapter after its fundamental shareholder, Abu Dhabi-based mostly Etihad, stated it will make no extra financing obtainable.
The Financial system Ministry and Transport Ministry stated Tuesday in a press release that the airline would get a mortgage of one hundred fifty million euros ($177 million) in order that it could actually proceed flights in the intervening time.
The ministries say “we’re in a time when many tens of hundreds of vacationers and vacationers are in a number of worldwide vacation spots. The return flights of those vacationers again to Germany with Air Berlin wouldn’t have been in any other case attainable.”
The airline, which did not reply calls, stated in a press release that after Etihad pulled funding, it “got here to the conclusion that there was no additional constructive means forward for Air Berlin.”