Air Berlin triggered bankruptcy proceedings in mid-August after losing a cash lifeline from its biggest shareholder Etihad Airways, giving potential buyers a month to make their offers. In the race to strip down Air Berlin, Lufthansa reportedly beat out IAG - owner of Iberia and British Airways - and three bids of between €500 million and €600 million apiece from private investors. Frankfurt-based Lufthansa has set its sights on up to 78 aircraft, while EasyJet is reportedly interested in Air Berlin's popular short-haul routes. Negotiations between Air Berlin, Lufthansa and EasyJet are expected to continue until October 12th. Also jostling for Air Berlin assets is Thomas Cook subsidiary Condor, which has joined forces with Formula One legend Niki Lauda, setting their sights on 21 planes belonging to the Air Berlin subsidiary that bears his name.

Source: The Local September 25, 2017 07:07 UTC