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Germany provides 150 million euro bridging loan to insolvent Air Berlin

BERLIN (Reuters) - Germany has made a bridging loan of 150 million euros ($176.16 million) available to Air Berlin AB1.DE to ensure flights continue after the airline filed for insolvency, two German ministries said on Tuesday.

“This bridging loan will be made available via the KfW (state development bank) and backed by a federal guarantee,” said the economy and transport ministries in a joint statement.

The ministries also said they expected a decision from Lufthansa LHAG.DE and another airline concerning the sale of parts of the business in coming weeks.

Reporting by Madeline Chambers and Joseph Nasr

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