BERLIN | Etihad sued for $2.3 billion by Air Berlin insolvency admin

14Dec - by Editor - 0 - In STL.News



BERLIN— 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, a Berlin 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, according to the Berlin administrative court.

In a statement, the court said Etihad had been supporting Air Berlin and sent a so-called “comfort letter” in April 2017 assuring its continued backing for 18 months.

Continue reading BERLIN | Etihad sued for $2.3 billion by Air Berlin insolvency admin at STL.News.



Source link