After announcing bankruptcy in August, low-cost airline Air Berlin has announced that it will cease operations by the end of the month and called on its employees to seek work elsewhere.
Photo credit: Reuters/ Channel 2 New
After announcing bankruptcy last August due to the suspension of financial support from Abu Dhabi airline Etihad Airways, Air Berlin announced that it will stop operating on October 28th and prepare its assets for liquidation.
The airline has called on its 8,600 employees to seek work elsewhere. According to company officials, in any situation in which Air Berlin will be either sold in its entirety or in parts, its buyers intend to bring their own crews. However, German airline Lufthansa, together with its subsidiary Eurowings, have already published ads for 1,000 new employees.
Air Berlin was established in 1978. In 1990, the company switched to a low-cost model and went public in 2006. Several months ago, majority shareholder Etihad Airways has ceased financial support.