Deals
Air Berlin Gets EU300 Million Lifeline From Etihad in Niki Deal
- Air Berlin, Niki plan exchange of Airbus single-aisle fleets
- Niki stake to be owned by new Etihad-TUI joint venture
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Air Berlin Plc will receive 300 million euros ($319 million) from Etihad Airways, the main backer of the troubled German airline, gaining an important lifeline as it restructures.
Abu Dhabi-based Etihad will buy Air Berlin’s stake in Austrian leisure-flight operator Niki for more than four times Air Berlin’s market value and will sidestep restrictions on foreign ownership of European airlines by folding the company into an Austrian-based holding.