Air Berlin PLC i.I.
Air Berlin PLC: Air Berlin has filed a petition for the opening of debtor-in-possession insolvency proceedings | Flight operation continues | The German Federal Government is supporting Air Berlin with a bridging loan
Air Berlin PLC / Key word(s): Insolvency Air Berlin has filed a petition for the opening of debtor-in-possession insolvency proceedings | Flight operation continues | The German Federal Government is supporting Air Berlin with a bridging loan Disclosure of inside information according to Article 17 of the Regulation (EU) No 596/2014 (Market Abuse Regulation, MAR) London, 15 August 2017 – The Board of Directors of Air Berlin PLC has, after close evaluation, determined that Air Berlin PLC has no longer a positive continuation prognosis. The reason for this conclusion is that its main shareholder Etihad Airways PJSC has notified Air Berlin PLC of the fact that it will not provide any further financial support to the Air Berlin group. Furthermore, two members of the Board of Directors of Air Berlin PLC who were appointed upon nomination by Etihad Airways PJSC have resigned from their offices. Against this background, the Board of Directors has filed with the competent local district court of Berlin-Charlottenburg a petition for the opening of debtor-in-possession insolvency proceedings today. In addition, a petition for the opening of debtor-in-possession insolvency proceedings has been filed with the local district court of Berlin-Charlottenburg for Air Berlin PLC & Co. Luftverkehrs KG and airberlin technik GmbH and will be filed for further subsidiaries of the Air Berlin group. It is not intended to file a petition for the opening of insolvency proceedings for NIKI Luftfahrt GmbH and Leisure Cargo GmbH. There are ongoing negotiations with Lufthansa and other parties regarding the disposal of business units. The German Federal Government, Lufthansa and other parties are supporting Air Berlin in its restructuring efforts. The German Federal Government is supporting Air Berlin with a bridging loan secured by a federal guarantee to maintain flight operations. The flight operations of Air Berlin PLC & Co. Luftverkehrs KG, Luftfahrtgesellschaft Walter mbH, NIKI Luftfahrt GmbH and Belair Airlines AG will be continued. Person making the notification: Air Berlin PLC c/o Browne Jacobson LLP, 6 Bevis Marks, Bury Court, London, EC3A 7BA, United Kingdom; ISIN GB00B128C026, WKN AB1000 (Share), Frankfurt Stock Exchange (Regulated Market, Prime Standard); ISIN DE000AB100B4 (Bond April 2011 and January 2014), Bondm segment of the open market of the Stuttgart Stock Exchange and Euro MTF market of the Luxembourg Stock Exchange; ISIN DE000A1HGM38 (Convertible Bonds 2013), Open Market Frankfurt Stock Exchange; ISIN XS1051719786 (EUR Bond May 2014), Euro MTF market of the Luxembourg Stock Exchange; ISIN XS1051723895 (CHF Bond May 2014), SIX Swiss Exchange and Euro MTF market of the Luxembourg Stock Exchange; ISIN DE000A19DMC0 (Convertible Bonds 2017), Open Market Frankfurt Stock Exchange
15-Aug-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Air Berlin PLC |
6 Bevis Marks, Bury Court | |
EC3A 7BA London | |
United Kingdom | |
Phone: | +49 (0)30 3434 159 0 |
Fax: | +49 (0)30 3434 159 9 |
E-mail: | ir@airberlin.com |
Internet: | ir.airberlin.com |
ISIN: | GB00B128C026, DE000AONQ9H6, DE000AB100B4, DE000A1HGM38, XS1051719786, XS1051723895 |
WKN: | AB1000 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart; Luxemburg, SIX |
End of Announcement | DGAP News Service |