Etihad-owned Air Berlin frequent flyer programme files for insolvency

Topbonus, the frequent flyer programme that Air Berlin sold to Etihad, has followed the troubled German carrier in filing for insolvency, leaving its 4.5m customers unable to use their points despite government intervention to keep Air Berlin’s planes in the air. The frequent flyer scheme has been a separate company 70% owned by Etihad since 2012, when Air Berlin sold a majority stake in an attempt to bolster its balance sheet. However, Topbonus said Friday it had “no other option” but to file for insolvency after Etihad refused to continue funding Air Berlin earlier this month. Air Berlin’s collapse has sparked a bidding war over the remains of the failed company, while a E150m loan from the German government has allowed the company to maintain its flights in the interim.<br/>