January 3, 2018 / 11:47 AM / 21 days ago

Air Berlin sells subsidiary Aviation GmbH to Thomas Cook

BERLIN (Reuters) - Collapsed German airline Air Berlin said on Wednesday it had sold its subsidiary Air Berlin Aviation GmbH to Thomas Cook Group Airlines PLC, continuing the carve-up of its business.

Thomas Cook said the acquisition would give its airline Condor further options for growth, consistent with its plans to grow capacity in the German market to meet increased demand experienced in recent months.

Neither company said how much Thomas Cook was paying, but a person familiar with the deal said the purchase price was a medium single-digit million euro amount.

Air Berlin, which filed for insolvency in August, has already sold major parts of its assets to German flagship carrier Lufthansa and Britain’s easyJet.

Reporting by Klaus Lauer; Writing by Maria Sheahan; Editing by Douglas Busvine

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