Aviation news analysis
50 SKY SHADES - World aviation news

Air Berlin frequent flyer programme files for insolvency

Download: Printable PDF Date: 27 Aug 2017 02:24 category:
Publisher:
Air Berlin frequent flyer programme files for insolvency - Airlines publisher
Krista Kuznecova
Country: Germany Aircraft: Airplanes Airline: Air Berlin
Source: Reuters

Air Berlin’s (AB1.DE) frequent flyer programme filed for insolvency on Friday, bad news for members with points on their accounts, which they can no longer use.

The frequent flyer programme Top Bonus had already stopped members from using and collecting points amid uncertainty about its future after Air Berlin itself filed for insolvency last week.

“Because of the situation with Air Berlin and the direct connection with the frequent flyer programme, Top Bonus had no other choice than to take this step,” Top Bonus said in a brief statement on Friday.

Air Berlin was forced to file for insolvency after major shareholder Etihad pulled the plug on further funding, although it is still flying thanks to a 150 million euro ($177 million)loan from the German government.

Etihad bought a 70 percent stake in Top Bonus for 184 million euros in 2012, and the proceeds helped Air Berlin turn a net profit that year, the only time it has done so over the past decade.

Bidders are currently jostling for the assets of Air Berlin, Germany’s second largest carrier.

Lufthansa (LHAG.DE), Thomas Cook’s (TCG.L) Condor, easyJet (EZJ.L) and Ryanair (RYA.I) are among airlines interested in the carrier’s business or parts of it, while German aviation investor Hans Rudolf Woehrl is also working on a bid.



Loading comments for Air Berlin frequent flyer programme files for insolvency...


Recommended

Apple International to provide specialised repairs and services in Russia

The International Helicopter Industry Exhibition HeliRussia each year features new international companies. One of the new enterprises art the expo this year, Apple International with headquarter...

Emirates and Formula 1® renew Global Partnership

Emirates, the world’s largest international airline, and Formula 1®, the pinnacle of motorsport, today announced they have renewed and expanded their partnership until the end of 2022....

Sikorsky and Canada's DND Receive AHS International Award for Successful CH-148 Cyclone Helicopter Shipboard Tests

AHS International has recognized Canada's Department of National Defence (DND) and Sikorsky, a Lockheed Martin company, for "conducting an extraordinary international effort" t...

Bombardier and Lufthansa Technik to Unveil Dialed Up Flight Experience Onboard Global 7000 Aircraft in Geneva

The industry-leading nice Touch cabin management system (CMS) will make its worldwide debut at the European Business Aviation Conference and Exhibition on May 29, 2018 The innovative system was d...