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easyJet: to buy part of bankrupt Air Berlin in Tegel.

(CercleFinance.com) - easyJet has signed an agreement with Air Berlin to acquire part of the bankrupt airline's operations at Berlin Tegel airport for a price of 40 million euros.

As part of the deal, easyJet will enter into leases for up to 25 A320 aircraft to operate the acquired slots.

After offering a reduced timetable at Tegel over the winter season, easyJet plans to operate a full schedule from the summer season of 2018.

"This is a relatively large deal for easyJet, adding around 9% to the airline's total fleet," Liberum said.

"Overall, the deal is consistent with easyJet's strategy and well-flagged," the brokerage firm added.

Listed in London, the shares are currently up 1.8% at 1,296.5 pence this morning.

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