Air Berlin subject of €500m INTRO Group takeover bid

By Johan De Mulder

Beleaguered German airline Air Berlin is the subject of a €500m bid from a subsidiary of Hans Rudolf Woehrl's INTRO Group. 

Germany's second biggest operator filed for bankruptcy protection in August and has since been the subject of interest from a number of potential buyers.

INTRO-Verwaltungs GmbH, an INTRO Group company, has now confirmed its bid of €500m for the whole of Air Berlin. Woehrl completed a similar deal for Deutsche BA from British Airways in 2003.

See also:


Other airlines and investors - such as Lufthansa, Condor, Germania and TUI - have been invited to participate in the bid but INTRO remains confident of its capacity to transform Air Berlin's fortunes.

"If there is no participation by other airlines, INTRO and its investors are in a position to turn around Air Berlin by themselves, they have repeatedly proven their ability to do this in the past," it said in a statement.

Lufthansa previously rejected the opportunity to partner in a bid after INTRO last month made public their initial interest in a takeover.

Share

Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology