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

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy