A €550 million refinancing of Air Berlin has been concluded with support from shareholder Etihad Airways.
The UAE carrier is supporting the recapitalisation through a €300 million bond.
The financial support is designed to strengthen the German airline’s equity capital and liquidity position for the long term.
Chief financial officer Ulf Hüttmeyer said: “This recapitalisation exercise has allowed us to significantly strengthen our equity capital and Air Berlin’s levels of liquidity. At the same time we are reducing our net debt and have lower interest payments to make.”
Etihad Airways has a 29.21% share in Air Berlin, the second-largest carrier in Germany after Lufthansa. It carried 13.5 million passengers last year.