Etihad sued for $2.3 billion by Air Berlin insolvency admin


BERLIN (AP) — A Berlin court says the insolvency administrator for bankrupt airline Air Berlin has sued its former largest shareholder, Gulf airline Etihad, for 2 billion euros ($2.26 billion) in damages.

The Berlin administrative court said Friday the suit alleges United Arab Emirates-based Etihad failed to live up to its financial obligations by withdrawing funding from the struggling airline.

The court says Etihad had been supporting Air Berlin and sent a so-called “comfort letter” in April 2017 assuring its continued backing for 18 months. But it then stopped the funding in August 2017, forcing Air Berlin to file for bankruptcy.

The suit asks for 500 million euros compensation and unspecified further damages, which the court estimated in total at some 2 billion euros.

Etihad has until the end of January to respond.

Watch: Matt Gaetz Hilariously Torches Democrat Senator Accused of Bribery on House Floor

It did not immediately reply to an email seeking its response.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
New York City