September 22, 2017 / 10:24 AM / 6 months ago

German bridge loan for Air Berlin not yet exhausted - Economy Minister

BERLIN (Reuters) - Insolvent German airline Air Berlin (AB1.DE) has not yet exhausted a 150 million euro (£132.71 million) bridge loan, a spokeswoman for the Economy Ministry said on Friday.

German carrier Air Berlin aircraft is pictured at Tegel airport in Berlin, Germany, September 12, 2017. REUTERS/Axel Schmidt

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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