German investor Woehrl takes issue with Air Berlin sale process

The field of bidders for Air Berlin’s assets appeared to narrow further Thursday when aviation investor Hans Rudolf Woehrl stepped back from the process to search for a partner. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August after shareholder Ethical Airways withdrew funding following years of losses. Now the carrier is to be carved up, most likely among several buyers, with about 140 leased aircraft and valuable take-off and landing slots in Germany up for grabs. Lufthansa, easyJet and Thomas Cook’s Condor are seen as likely bidders. Ryanair will not submit a bid, CE Michael O’Leary said Wednesday. Woehrl has proposed keeping Air Berlin intact as a charter airline rather than carving it up. But he declined to sign a confidentiality agreement that would allow him to look at Air Berlin’s books, a pre-condition for a formal offer for the carrier. Such a step would be inappropriate as it wants to work with one of the other bidders on a joint offer, Woehrl’s firm Intro said. “The agreement is unsuitable given the consortium solution that Intro is planning,” the statement said. Lufthansa has already turned Woehrl down, but he has received positive signals from other bidders, it said, without providing details. Woehrl reiterated that he was not interested in buying only parts of Air Berlin.<br/>