For weeks, Air Berlin’s bankruptcy has been a hot topic of discussion. Who will buy the airline and under what conditions? They're said to be in over a billion euros of debt. Bids to buy the company have to be in by Friday.
Austrian airline Niki has filed for bankruptcy protection after German carrier Lufthansa withdrew its takeover bid for the former Air Berlin subsidiary. Now passengers are stranded across Europe.
Germany's flagship carrier has reportedly addressed EU competition concerns over its planned takeover of insolvent rival Air Berlin, offering to give up a substantial number of airport starting and landing slots.
After nearly four decades of plying the skies, Germany's once second-largest airline has stopped operating, with many employees fearing to be left without work amid attempts to sell the remaining assets.
The German airline has faced its moment of truth as a fierce bidding war has basically closed. Wildcat strikes by pilots had complicated talks on the break-up of the carrier that filed for bankcruptcy protection.
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