The wet-lease agreement between airberlin and Lufthansa Group announced at the end of September 2016 was executed today.
The German airline recently announced the sale of its share in NIKI to Etihad Airways. The wet-lease agreement is another milestone in the airline’s restructuring programme, paving the way for the establishment of a leaner corporate structure and a business model as a focused network carrier.
Stefan Pichler, airberlin CEO, said:
“airberlin is on track. The sale of certain touristic destinations and the wet-lease agreement with Lufthansa will enable us to focus on our new business model, and deliver positive long-term change.”
As part of the agreement with Lufthansa Group, airberlin will wet lease 38 A320 family aircraft for an initial period of six years to airlines of Lufthansa Group. By optimising its fleet, airberlin reduces its excess capacity, whilst protecting jobs in flight operations, and minimising restructuring costs.
Mr. Pichler added:
“With airberlin as a network carrier, our passengers will benefit from extensive long-haul services at our two hubs: Berlin and Dusseldorf. We’re also increasing our market share for business customers on attractive domestic German routes and to a number of major European cities. By simplifying our business model, we are again creating a strong market profile.”