AirBerlin will stop all flights by October 28, 2017, and is advising its employees to find new jobs as the company moves forward with its liquidation process, according to a letter from the airline’s top executives. Although AirBerlin is attempting to secure positions for its approximately 8,600 employees, they are still urged to look for other employment since any new buyers of AirBerlin’s assets are likely to hire new staff.
Founded in 1978 in West Berlin, AirBerlin transitioned to a low-cost airline model after Germany’s reunification in 1990 and went public with its shares in 2006. The airline entered insolvency administration in August when its main financial backer, Etihad Airways from Abu Dhabi, pulled out due to continuous financial losses. According to the letter from AirBerlin’s executives, the airline will halt operations by the end of October as they work with creditors and distribute assets to buyers.
NIKI, another airline, is not affected by this insolvency and will continue its flight operations as scheduled.