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airberlin's strategic partnership with Etihad Airways receives regulatory clearances.

AIRLINE INDUSTRY INFORMATION-(C)1997-2012 M2 COMMUNICATIONS

German carrier airberlin on Tuesday said that it has received regulatory clearances by German and Austrian authorities regarding it's strategic partnership with Etihad Airways.

On 24 January 2012 the participation agreement entered into on 19 December 2011, which increased Etihad Airways' capital share of Air Berlin PLC, was finalised.

airberlin has received around EUR73m for the 31,574,312 shares issued for capital increase, based on a fixed rate of EUR2.31 per share.

Etihad Airways is now the largest single shareholder of airberlin. Etihad Airways' minority share is composed of the newly acquired shares (27.03%) and existing shares of 2.99% (before dilution), which provides Etihad with a voting interest of 29.21%.

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Publication:Airline Industry Information
Date:Jan 25, 2012
Words:134
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