Air Berlin subject of €500m INTRO Group takeover bid

By Johan De Mulder
Share

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

SAP creates new EMEA region and announces new President

SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology

How SAP is facilitating continuous business transformation

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

Siemens and Microsoft: Driving cross-industry AI adoption

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI

Sustainability must become central to corporate strategy

Sustainability

The endless benefits of putting your people first

Leadership & Strategy

Working from anywhere: SAP uncovers secret life of employees

Human Capital