CE: Airberlin will not apply for state aid

Airberlin has decided not to apply for a govt guarantee, because the company is making good progress with its restructuring. CE Thomas Winkelmann said: “We had made a preliminary application for a surety as part of management’s pre-emptive strategy of investigating all restructuring options for Airberlin. However, we have at no point made a binding application for a surety, and will not do so.” The carrier said it has already achieved cost savings in the double-digit million euros range for 2018 as a result of successful renegotiations of aircraft leasing contracts and by lowering operating expenses. “There is quite simply no longer any need for a govt guarantee to secure any loans,” Winkelmann said. <br/>