Air Berlin: EU approves rescue aid of 150 million euros.
(CercleFinance.com) - The European Commission has authorised the German authorities' plan to grant Air Berlin a temporary bridging loan of 150 million euros.
The EU said in a statement that the measure will allow for the orderly wind-down of the insolvent airline Air Berlin without unduly distorting competition in the Single Market.
The purpose of the loan is to allow Air Berlin to continue operations in the coming months, with the aim of maintaining its services while it concludes ongoing negotiations to sell its assets. At the end of the process, Air Berlin is expected to cease operating and exit the market.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The EU said in a statement that the measure will allow for the orderly wind-down of the insolvent airline Air Berlin without unduly distorting competition in the Single Market.
The purpose of the loan is to allow Air Berlin to continue operations in the coming months, with the aim of maintaining its services while it concludes ongoing negotiations to sell its assets. At the end of the process, Air Berlin is expected to cease operating and exit the market.
Copyright (c) 2017 CercleFinance.com. All rights reserved.