Air Berlin will receive E300m from Etihad, the main backer of the troubled German airline, gaining an important lifeline as it restructures. Abu Dhabi-based Etihad will buy Air Berlin’s stake in Austrian leisure-flight operator Niki for more than four times Air Berlin’s market value and will sidestep restrictions on foreign ownership of European airlines by folding the company into an Austrian-based holding. The transaction is part of a larger deal reached in November between Etihad and tour operator TUI AG to combine airline assets in a leisure market burdened by a glut in capacity. Etihad will end up with 25% of the joint venture, which will operate about 60 aircraft with capacity to carry 15m passengers a year. TUI will hold 24.8%, with the remaining shares owned by private foundation Niki Privatstiftung. As part of the deal, Air Berlin will take possession of Niki’s Airbus Group SE single-aisle A321 planes while handing over its Airbus A319 and A320 models to the Austrian partner, the German airline said Monday. With the start of the summer 2017 schedule, Niki will take over Air Berlin’s routes serving southern Europe excluding Italy, as well as North Africa and Turkey. The stake disposal will help Air Berlin’s earnings once the transaction is completed, the carrier said.<br/>
oneworld
Anyone who finds a piece of debris from a Malaysia Airlines plane that is believed to have crashed in the southern Indian Ocean in 2014 could receive a financial reward, relatives of those who were on the plane said Monday in Madagascar. A group of relatives who travelled to the island nation off the southeast coast of Africa made the offer in hopes that residents will scour some coastal areas of Madagascar, where possible parts of Flight MH370 washed ashore. Meanwhile, a Malaysian official investigating the disappearance of the Boeing 777 was in Madagascar's capital, Antananarivo, to pick up debris that has already been found and will be analyzed to see if it came from the aircraft. "The more debris we find, the easier it will be to find where the crash happened," said Ghislain Wattrelos, a Frenchman who lost his wife and two of his three children when the plane deviated from its flight path from Malaysia to Beijing and vanished on March 8, 2014. Malaysia, Australia and China are close to completing a deep-sea sonar search, so far unsuccessful, of 120,000 square kilometres off Australia's southwest coast in the Indian Ocean. They say they will suspend operations if there is no new evidence that could help pinpoint the crash site. Relatives of the missing believe the search should continue. Wattrelos, as well as two people who lost their mothers on the flight — Grace Nathan of Malaysia and Jiang Hui of China — spoke at a news conference in Antananarivo. They did not specify how much money might be given to someone who finds a confirmed piece of Flight MH370, saying it depends on the significance of the debris and the limited resources of the families. The families say there are three major areas in Madagascar where Flight MH370 debris could have washed up: Isle Sainte-Marie, Antongil Bay and Nosy Be, a big tourist destination. They also want people in Tanzania and Mozambique to be on the lookout. <br/>