The European Commission yesterday approved a German bridging loan for Air Berlin that will keep the insolvent airline’s planes flying while it tries to find buyers for its assets, Reuters reported. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August after shareholder Etihad Airways withdrew funding following years of losses. The government pledged a 150 million euro ($179 million) loan to prevent Air Berlin’s planes from immediately being grounded, which would have stranded holidaymakers abroad and put around 8,000 jobs at risk only weeks before a national election. “The measure will allow for the orderly wind-down of the insolvent airline Air Berlin without unduly distorting competition,” the Commission said in a statement.
