Airberlin, the European carrier in which Abu Dhabis Etihad Airways has a 29.2% stake, has unveiled a far-reaching restructuring of its business, which will see the company concentrate its core operations as a dedicated, focused network carrier serving higher-yielding markets, from its two key hubs in Berlin and Dusseldorf, with a core fleet of 75 aircraft.
Its leisure flying will be combined into an independently operating business unit.
To employ excess aircraft and crew capacity, airberlin intends to provide up to 40 Airbus A320 family aircraft to the Lufthansa Group with up to 38 aircraft to be wet-leased under a six year wet-lease agreement.
The restructuring follows a comprehensive, bottom-up rev…
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