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German company Intro offers 500 million euros to acquire struggling carrier Air Berlin

German investor Hans Rudolf Woehrl has offered 500 million euros for the struggling carrier Air Berlin, with his company Intro announcing that they would pay a tenth of the amount immediately, and the remainder later, “depending on the results.”

“We are working intensively to realize this offer, not only with the help of experts but also with suggestions and advice from employees, passengers, and business partners of Air Berlin,” Woehrl stated on Sunday via Facebook. The public became acquainted with him in 2003 when he purchased the airline Deutsche BA from British Airways for a symbolic one euro and later sold it to Air Berlin.

His company Intro on Sunday offered an immediate payment of 50 million euros for the acquisition of the struggling company, while, as stated, the remaining 450 million would be paid later, “depending on the results.” Intro wants the entire Air Berlin, not just individual parts of it, Woehrl emphasized, inviting other potential buyers, such as Lufthansa, Condor, TUI, Germania, and former Formula 1 driver Niki Lauda, to join his offer. He added, however, that his company could, if necessary, also purchase the complete assets of Air Berlin, including 140 leased aircraft and landing and take-off permits at German airports.

>>> Air Berlin has filed for bankruptcy

The German government reminds that Air Berlin is the second carrier in the country, so due to competition protection regulations, one carrier cannot purchase it.

After their shareholder Etihad Airways withdrew financial support in June due to years of losses, Air Berlin filed for bankruptcy on August 15. They have given potential buyers a deadline until September 15 to submit offers.

In the meantime, the government approved a short-term loan of 150 million euros to the struggling carrier, which was also approved by the European Commission last Monday. This allows Air Berlin to continue operations in the short term so that tourists can return smoothly from their holidays abroad, and around eight thousand jobs are at stake, just before the parliamentary elections in Germany.