airberlin share, XETRA: 0.04 EUR, 24/11/17, 05:12 pm
3.17 pm (CEST), 15 August 2017

Air Berlin Finance B.V.

Air Berlin PLC and Air Berlin PLC & Co. Luftverkehrs KG have filed a petition for the opening of debtor-in-possession insolvency proceedings | Flight operation continues | The German Federal Government is supporting Air Berlin with a bridging loan

Disclosure of inside information according to Article 17 of the Regulation (EU) No 596/2014 (Market Abuse Regulation, MAR)

Amsterdam, 15 August 2017 - Air Berlin Finance B.V. announces that the Board of Directors of Air Berlin PLC has, after close evaluation, determined that Air Berlin PLC has no longer a positive continuation prognosis. The reason for this conclusion is that its main shareholder Etihad Airways PJSC has notified Air Berlin PLC of the fact that it will not provide any further financial support to the Air Berlin group.

Furthermore, two members of the Board of Directors of Air Berlin PLC who were appointed upon nomination by Etihad Airways PJSC have resigned from their offices.

Against this background, the Board of Directors has filed with the competent local district court of Berlin-Charlottenburg a petition for the opening of debtor-inpossession insolvency proceedings today. In addition, a petition for the opening of debtor-in-possession insolvency proceedings has been filed with the local district court of Berlin-Charlottenburg for Air Berlin PLC & Co. Luftverkehrs KG and airberlin technik GmbH and will be filed for further subsidiaries of the Air Berlin group. It is not intended to file a petition for the opening of insolvency proceedings for NIKI Luftfahrt GmbH and Leisure Cargo GmbH.

There are ongoing negotiations with Lufthansa and other parties regarding the disposal of business units.

The German Federal German Government, Lufthansa and other parties are supporting Air Berlin in its restructuring efforts. The German Federal Government is supporting Air Berlin with a bridging loan secured by a federal guarantee to maintain flight operations.

The flight operations of Air Berlin PLC & Co. Luftverkehrs KG, Luftfahrtgesellschaft Walter mbH, NIKI Luftfahrt GmbH and Belair Airlines AG will be continued.

Due to the filing of a petition for the opening of debtor-in-possession insolvency proceedings by Air Berlin PLC, consequently the ability of Air Berlin Finance B.V. to fulfil its obligations in respect of (i) the 6.00% guaranteed convertible bonds due 6 March 2019 (ISIN DE000A1HGM38) with an outstanding principal amount of EUR 5.5 million convertible into ordinary registered shares of Air Berlin PLC and (ii) the 8.50% guaranteed convertible bonds due 6 March 2019 (DE000A19DMC0) with an outstanding principal amount of EUR 125 million convertible into ordinary registered shares of Air Berlin PLC is likely to be materially adversely affected. Air Berlin Finance B.V. shall continue to follow the developments in relation to Air Berlin PLC and to assess the consequences of the events surrounding Air Berlin PlC for Air Berlin Finance B.V.

 

Person making the notification:

Michelle Johnson, Director

Email: ir@airberlin.com

 

Air Berlin Finance B.V., De entree 99 - 197, 1101 HE Amsterdam, Netherlands; ISIN DE000A1HGM38 (Convertible Bonds 2013), Open Market Frankfurt Stock Exchange; ISIN DE000A19DMC0 (Convertible Bonds 2017), Open Market Frankfurt Stock Exchange