The insolvency administrator for bankrupt airline Air Berlin has sued its former largest shareholder, United Arab Emirates-based airline Etihad, for two billion euros in damages, a Berlin court said on Friday.
The suit alleges 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. But it then stopped the funding in August 2017, forcing Air Berlin to file for bankruptcy.
Source: Borneo Bulletin, December 16, 2018
