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German bridge loan for Air Berlin not yet exhausted: Economy Ministry
September 22, 2017 / 10:07 AM / 2 months ago

German bridge loan for Air Berlin not yet exhausted: Economy Ministry

BERLIN (Reuters) - Insolvent German airline Air Berlin (AB1.DE) has not yet exhausted a 150 million euro ($179 million) bridge loan, a spokeswoman for the Economy Ministry said on Friday.

A Bombardier Dash 8 Q400 aircraft of German carrier AirBerlin takes off towards Stuttgart, Germany, from Duesseldorf airport, Germany, September 12, 2017. REUTERS/Wolfgang Rattay

The government agreed in mid-August to provide the loan to ensure that Air Berlin flights continue for a period of up to three months, to return holidaymakers to Germany and secure thousands of jobs.

Beate Baron, spokeswoman for the Economy Ministry, said the loan was being paid out in tranches according to demand.

“The credit has not been exhausted,” she told a regular government news conference, adding she could give no further details as to how much has already been disbursed.

Reporting by Caroline Copley and Joseph Nasr; Editing by Maria Sheahan

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