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

Satcom Direct marks a decade as an Inmarsat Connected Partner for SwiftBroadband

Satcom Direct (SD), the business aviation connectivity provider, is celebrating 10 years of partnership with global mobile satellite communications business Inmarsat.  The milestone annivers...

hullo Aircrew celebrates online platform launch at London Oxford Airport

New technology will save operators time and money when sourcing crew Following the successful introduction of the hullo Aircrew brand at EBACE last year, the technology start-up has officially laun...

Garmin introduces revolutionary GFC 600H helicopter flight control system

The Garmin GFC™ 600H flight control system for helicopter owners and operators is a breakthrough in cost-effective technology that reduces pilot workload and improves mission effectiveness. G...

Bell Helicopter rebrands to “BELL”, reflecting expanded vision for the future

INDUSTRY LEADER IN ADVANCED TECHNOLOGY AND INNOVATION MODERNIZES ITS IDENTITY Bell Helicopter, a Textron Inc. company and major global aircraft manufacturer, revealed it has rebranded to...