EU approves Air Berlin loan

September 6, 2017 by  
Filed under Aviation, EUROPE, News

BRUSSELS, 6 September 2017: The European Commission on Monday approved Germany’s plans to grant insolvent Air Berlin a 150 million euro (USD180 million) loan to allow it temporarily to serve passengers while selling off its business.

The 28-nation EU executive effectively refuted critics who say the German government is offering state aid for rival airline Lufthansa to build a monopoly with Air Berlin assets.

“The European Commission has endorsed under EU state aid rules Germany’s plans to grant Air Berlin a temporary 150 million euro bridging loan,” the commission said in a statement. Read more

Air Berlin on the brink

August 18, 2017 by  
Filed under Aviation, News

FRANKFURT, 18 August 2017: Air Berlin is in talks with three competitors about buying up its assets, the insolvent airline’s boss said, Thursday, warning that not all jobs would be saved.

“Aside from Lufthansa, we are in contact with two other interested parties from the aviation industry,” Air Berlin chief executive Thomas Winkelmann told the Frankfurter Allgemeine Zeitung newspaper.

The negotiations have been going on for weeks, he said, and all three airlines were financially sound and large enough “to offer Air Berlin a secure future” while keeping Germany as an operations hub. Read more

Loans for Lao roads

February 12, 2015 by  
Filed under Laos PDR, News

VIENTIANE, 12 February 2015: The Asian Development Bank will provide funding of over USD40 million for tourism development through 2019 for the construction of infrastructure, especially access roads to tourist sites, and handicraft product development.

Lao News Agency reported the Ministry of Information, Culture and Tourism and ADB held a meeting to launch a stakeholder partnership for Destination Development and Management Monday.

The Information, Culture and Tourism deputy minister, Chaleune Warinthrasak, said ADB will provide a low-interest loan of about USD40 million for tourism development, which will be implemented from now through 2019.   Read more