Germany rejects Ryanair claim that Air Berlin insolvency was staged
Reuters
Published Aug 16, 2017 08:05AM ET
Germany rejects Ryanair claim that Air Berlin insolvency was staged
BERLIN (Reuters) - Germany on Wednesday rejected accusations by low-cost airline Ryanair (I:RYA) that Air Berlin's (DE:AB1) filing for insolvency protection was aimed at preparing the German carrier for a takeover by Lufthansa (DE:LHAG).
An economy ministry spokeswoman also said a bridging loan of 150 million euros ($175.5 million) the government has granted Air Berlin did not breach anti-trust rules.
"I reject the accusation by Ryanair today that it was a staged insolvency application," the spokeswoman said. "We assume that the loan is conform with the law".
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Written By: Reuters
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