Merkel says unlikely German taxpayers will fund Air Berlin rescue

An Air Berlin sign is seen at an Air Berlin storage hall in Berlin, Germany, August 15, 2017. — Reuters picAn Air Berlin sign is seen at an Air Berlin storage hall in Berlin, Germany, August 15, 2017. — Reuters picBERLIN — German taxpayers will very likely not have to pay for a rescue of Air Berlin, Chancellor Angela Merkel said today, a day after Germany’s second-largest airline filed for bankruptcy protection.

Berlin has granted a bridging of €150 million (approx. RM754 million) to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations continue.

Asked in a YouTube interview how big the risk is that taxpayers would pay for a rescue, Merkel replied: “That is quite low otherwise we would not have been allowed to grant this bridge loan … We can say that in all likelihood the taxpayer will not have to pay for that.” — Reuters

Source: The Malay Mail Online







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