BREAKING NEWS

BREAKING NEWS

Zeitfracht, Nayak poised to buy some Air Berlin assets - sources

Now Reading:

Zeitfracht, Nayak poised to buy some Air Berlin assets - sources

Text size Aa Aa

BERLIN (Reuters) – A consortium of family-owned Zeitfracht and maintenance group Nayak is close to striking a deal to buy Air Berlin’s <AB1.DE> cargo marketing platform and its maintenance business, several people familiar with the matter told Reuters. “They are on the home stretch,” one of the sources said. A spokesman for Zeitfracht said that talks were promising and had reached an advanced stage. Air Berlin declined to comment. Air Berlin, which has struggled to turn a profit over the last decade, filed for insolvency on Aug. 15. A government loan has kept its planes aloft while its administrator negotiated with prospective buyers for parts of the business. Lufthansa has agreed to buy large parts of Air Berlin, but talks for its remaining assets are ongoing.

(Reporting by Klaus Lauer; Writing by Maria Sheahan; Editing by Douglas Busvine)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.