Air Berlin (AB, Berlin Tegel) has announced it will sell its 49.8% shareholding in its Austrian production company, Niki (HG, Vienna), to Etihad Airways Group unit, Etihad Investment Holding Company LLC, for EUR300 million (USD318 million). The transaction is subject to government approval.
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As previously reported by the German press, the new airline, tentatively named Blue Sky, will be owned by TUI AG (24.8%), Etihad (25%), with the NIKI Privatstiftung foundation holding the remaining 50.2%. TUI will contribute its subsidiary TUIfly (Germany) (X3, Hanover) to the joint venture, including the five B737-700s and nine B737-800s it currently leases out to Air Berlin.
A filing with the Frankfurt Stock Exchange said as part of the transaction, Air Berlin will transfer its entire fleet of twenty-one A321-200s to Niki while in return Niki will transfer its entire fleet of five A319-100s and thirteen A320-200s to Air Berlin. The transaction also includes the discontinuation of Air Berlin’s wet-lease agreement with TUIfly.
