EasyJet acquired part of the assets of Air Berlin for 40 million EUR

easyJetEasyJet reached a deal worth 40 million EUR for acquisition part of the assets of the bankrupted German airline Air Berlin. The British low-cost carrier will acquire parts of the company’s assets at Berlin’s Tegel Airport, including time slots, and 25 aircraft Airbus A320, which are still on leasing. EasyJet said the deal was subject to regulatory approval but was likely to be confirmed in December, which will come as a relief to roughly 1,000 Air Berlin pilots and crew whose jobs will be saved by the deal.

The airline will continue with its existing operations at Schönefeld, the old East Berlin airport favoured by low-cost operators

After announcing the transaction, EasyJet shares rose by 1.32%.

Air Berlin has already agreed to sell its Austrian airline Niki to Lufthansa as well as its regional carrier LGW.

The German carrier announced a bankruptcy after Etihad, a major shareholder, said it would no longer provide financial support to the finance-troubled carrier. Air Berlin received a loan from the German government to continue its flights.