easyJet expects deal on airberlin assets at Berlin Tegel to close in Dec-2017

    easyJet reported (21-Nov-2017) the following update in relation to its acquisition of airberlin assets at Berlin Tegel Airport:

    • Agreement to acquire selected airberlin operations at Berlin Tegel for a purchase consideration of EUR40 million announced in Oct-2017. Acquisition expected to close in Dec-2017 following antitrust and regulatory approvals;
    • Acquisition includes easyJet entering into leases for up to 25 A320 aircraft, offering employment to up to 1000 former airberlin crew;
    • Expected losses of around GBP60 million on easyJet’s activities at Berlin Tegel in FY2018 due to using wet lease aircraft with initially lower loads and yields. [more – original PR]