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Eurowings Wins Union Backing to Speed Up Hiring Amid Air Berlin Turbulence

Lufthansa budget unit Eurowings has agreed a deal with the Verdi union that will allow it to hire new cabin crew at short notice from rivals such as bankrupt Air Berlin, Reuters reported. Eurowings launched a recruitment drive last month, seeking around ...

Daily Headline - global.abi.org - 09/20/2017 - 19:11 - 0 comments

Air Berlin Unit Niki Denies Has Unpaid Bills to Tour Operator

Austrian airline Niki said on Wednesday it had paid all bills owed to a tour operator and it therefore expected to avert bankruptcy proceedings which have hit parent Air Berlin, Reuters reported. Law firm Kosch & Partner said earlier it had applied f ...

Daily Headline - global.abi.org - 09/20/2017 - 19:13 - 0 comments

Rivals Add Caribbean Capacity to Fill Air Berlin Gaps

Airlines Condor and Eurowings plan to provide flights to the Caribbean from Duesseldorf, meeting demand from Germans seeking winter sunshine after cancellations by insolvent Air Berlin, Reuters reported. Air Berlin filed for bankruptcy protection in Augu ...

Daily Headline - global.abi.org - 09/19/2017 - 22:35 - 0 comments

TUIfly Eyes Costs as it Prepares to Take Back Air Berlin Planes

In a related story, tour operator TUI’s airline TUIfly is seeking to cut its costs by at least 30 million euros ($36 million) as it prepares to take back aircraft it has leased out to insolvent Air Berlin’s Austrian unit Niki, a German paper reported. So ...

Daily Headline - global.abi.org - 09/19/2017 - 22:37 - 0 comments

BA Owner IAG Among Bidders for Air Berlin

British Airways owner IAG has joined the field of bidders for parts or all of insolvent German airline Air Berlin, two people familiar with the matter told Reuters on Monday. Lufthansa and several other parties had put in bids for parts of Air Berlin by ...

Daily Headline - global.abi.org - 09/19/2017 - 00:17 - 0 comments

Forget Default: Deutsche Reckons Debt Market Risk Lies Elsewhere

What’s in a word? A lot when it comes to the term “liquidity.” For years, academics, investors and regulators have sparred over the meaning of liquidity, and the degree to which it’s said to have deteriorated in the marketplace, Bloomberg News reported. ...

Daily Headline - global.abi.org - 09/19/2017 - 00:18 - 0 comments

Air Berlin's Administrator Takes in Bids from Lufthansa, Others

Lufthansa and several other parties had put in bids for parts of Air Berlin by the deadline of Friday set by the administrator of the insolvent airline which employs more than 8,000 people, Reuters reported. Germany’s second-biggest airline after Lufthan ...

Daily Headline - global.abi.org - 09/17/2017 - 23:13 - 0 comments

Volkswagen Recalls Vehicles in China Over Faulty Airbags

Volkswagen will recall 4.86m vehicles sold in China over airbag problems, marking the latest blow for the German carmaker that has suffered numerous quality and distribution issues in the Asian country this year. VW will recall vehicles equipped with air ...

Daily Headline - global.abi.org - 09/14/2017 - 23:41 - 0 comments

Embattled German Financier Windhorst Raises €500 Million in Bond Sale

A new vehicle linked to Lars Windhorst has raised a €500m bond intended to help the flamboyant German financier settle outstanding lawsuits and repay existing debts, as he tries to keep his heavily indebted business empire afloat, the Financial Times ...

Daily Headline - global.abi.org - 09/14/2017 - 23:42 - 0 comments

Lauda to Bid for Part of Air Berlin with Thomas Cook's Condor

Former motor racing driver Niki Lauda will table an offer for parts of insolvent airline Air Berlin together with Thomas Cook’s German carrier Condor, Lauda told Austrian newspaper Kurier on Wednesday. Lauda holds 51 percent of the consortium which will ...

Daily Headline - global.abi.org - 09/13/2017 - 22:01 - 0 comments

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