China's LinkGlobal joins bidding for Air Berlin

Xinhua Published: 2017-09-13 21:28:20
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

An Airbus A319 plane for Air Berlin [File Photo: renwen.com]

An Airbus A319 plane for Air Berlin [File Photo: renwen.com]

Chinese businessman Jonathan Pang has joined a growing list of investors offering to buy the insolvent German carrier Air Berlin, German newspaper BILD reported on Wednesday.

The local newspaper cited a letter of intent sent by Pang's company LinkGlobal to Air Berlin's management dated on Aug. 31.

"We are informed," the letter of intent reads, that Air Berlin is looking for a "reliable investor for acquisition. We hereby express our interest and intention for this purpose."

Pang previously acquired the former German military airport Parchim, located between Berlin and Hamburg. He proposed shifting at least part of Air Berlin's activities to the currently disused site in his letter of intent, expressing confidence that such a move could be a "win-win for both Air Berlin and our Parchim airport."

The news of Pang's interest comes as Air Berlin is still reeling from mass flight cancellations caused by pilots calling in sick as a form of protest. At least 32 flights have to be canceled so far on Wednesday, mainly at Berlin-Tegel and Dusseldorf airports.

In response, Air Berlin CEO Thomas Winkelmann accused pilots of "playing with fire."

"We are currently in final discussions with investors" he said, warning that cancellations were costing the already bankrupt firm "millions of euros."

Air Berlin is Germany's second largest airline and employs over 8,000 staff. The German government has provided the insolvent company with a credit facility of 150 million euros (179.8 million U.S. dollars) to ensure continuity of operations until a buyer is found.

Related stories

Share this story on

Most Popular

Photo

Environment-themed shared bicycles appear in Guangzhou
Changchun bus driver decorates bus with toys
Sunset creates a "UFO" impression in Guizhou
Teachers and students at Changchun University construct Formula One-like car
Goat fight in east China's county
Hainan students get basketball lesson from Kobe Bryant

News

Landslides kill 7 in SW China
Sino-Russian university alliance established
First Sino-Russian university begins inaugural semester
Fake profiles and scams rampant on dating websites
La Liga coming to China?
Husband and wife travel China for nearly 20 years