Air Berlin Insolvency Report

Although the media hullabaloo has already died down air berlin s bankruptcy proceedings look set to last for quite some time.

Air berlin insolvency report. The insolvency administrator of air berlin plc provided keos gbr in its capacity as joint representative of the eur 225 million 2011 2018 8 250 bonds issued by air berlin plc with a report on the progress of the insolvency proceedings concerning the assets of air berlin plc. Munich 14 september 2020 the insolvency administrator of air berlin plc provided keos gbr keos in its capacity as joint representative of the eur 225 million 2011 2018 8 250 bonds issued by air berlin plc the bond isin. The carrier s administrators have reportedly been already asked by the creditors to find a firm which could finance the planned litigation. He reports that the proceedings have only just begun.

Air berlin had gone under after etihad airways ceased financial support to the carrier that it has previously offered. Bankruptcy proceedings on this scale usually take ten years or more explains lucas flöther air berlin insolvency administrator. Unsecured creditors of air berlin debt are out of luck. Some ex customers of the now defunct air berlin who received money back through credit card chargebacks might receive a nasty surprise these days as the insolvency administrator is now asking for the money back.

It is our latest understanding that any compensation claims filed with air berlin before 15th august 2017 will not be paid while any claims filed after 15th august 2017 will now enter into a new procedure the outcome of which is yet to be determined. An aircraft operated by german carrier niki and air berlin sits on the tarmac of berlin s tegel. Germany s second largest carrier air berlin has filed for insolvency after. Berlin has granted a bridging loan of 150 million euros 176 million to allow air berlin to keep its planes in the air for three months and secure the jobs of its 7 200 workers in germany while negotiations continue.

The insolvency comes as thousands of germans enjoy their summer holidays and just ahead of a september general election. Air berlin plc co. Ab100b with a report on the progress of the insolvency proceedings concerning the assets of air berlin plc. It was headquartered in berlin and had hubs at berlin tegel airport and düsseldorf airport it was a member of the oneworld airline alliance.

What might sound like a bad joke is actually founded in germany s insolvency law which considers clawing back your funds through cancelling banking transactions as skipping the line.