Air Berlin seeks damages from Etihad: Report

Air Berlin is demanding damages from its part-owner Etihad Airways for letting it become insolvent and it hopes for payment of at least E10m, Air Berlin’s administrator told a German newspaper. “We are in negotiations with Etihad and hope to reach a general settlement soon. We are hoping for a two-digit million euro sum,” daily Rheinische Post on Saturday quoted administrator Frank Kebekus as saying. Air Berlin filed for bankruptcy in August after Etihad, the owner of almost 30% of Air Berlin, withdrew funding following years of losses. Etihad was not immediately available for comment. The Abu Dhabi-based carrier has been reviewing its European investments after they failed to yield the profits expected. <br/>