Topbonus, the frequent flyer programme that Air Berlin sold to Etihad, has followed the troubled German carrier in filing for insolvency, leaving its 4.5m customers unable to use their points despite government intervention to keep Air Berlins planes in the air.
The frequent flyer scheme has been a separate company 70 per cent owned by Etihad since 2012, when Air Berlin sold a majority stake in an attempt to bolster its balance sheet. However, in a statement released on Friday, Topbonus said it had no other option but to file for insolvency after Etihad refused to continue funding Air Berlin earlier this month.
Air Berlins collapse has sparked a bidding war over the remains of the failed company, while a 150m loan from the German …
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