Quote:
Air Berlin is about to fold during the coming winter releasing another 1300 pilots with experience onto the local market
Where did you get this info?you mean bankrupt for good?Isnt Air Berlin a huge Airline?
Hardly huge, and shrinking fast. So far this year they reduced their fleet by 10% and will reduce it further. And about their financial stability? Well, last December the airline was bankrupt, a not to be named here middle eastern airline bought close to 30% of their shares for €70 million and lend them another 200 million. This june they had to lend them another 160 million to keep them afloat and air berlin has widened its losses compared to the previous year which was already catastrophic with a 300m loss. Either the unnamed middle eastern airline will have to inject more and more capital in an increasing rate or they will cut their losses and the airline will immediately fold. As it is unlikely that air berlin will ever make s profit i would think the latter is going to happen. Why this winter? Because the airline would need another 300 million come december to survive the winter, but only if the winter is as mild as the last one. For a hard winter they need at least double that as their main hub (berlin tegel) will be mostly unusable.