Air Berlin (1991) (Berlin Tegel) is considering delisting from the stock market in a bid to lure in new investors and fresh capital Germany's Manager magazine has reported. According to the publication, the move is spurred by 29.21% shareholder Etihad Airways (EY, Abu Dhabi International) which has purportedly expressed dissatisfaction with the airline's stalled turnaround programme. Etihad is said to be eyeing a bigger stake in the carrier to which it has already said it would loan USD255million.

Analysts had speculated that the Emirati carrier could once more prop up the German airline through the purchase of its MRO unit, Air Berlin Technik, which could mirror a 2012 Etihad "hidden cash" injection involving the acquisition of a majority stake in Air Berlin's loyalty programme for USD242.7million.

The delisting will allow for a restructuring of the airline's shareholding thereby allowing the Emiratis to circumvent a 30% foreign ownership cap. An increased presence in Air Berlin's structure would also allow for Etihad to have a greater say in the airline's operations.

Though still speculative, it is believed the restructuring could also result in a possible split in Air Berlin with one division handling its Abu Dhabi International feeder services, the other handling European and tourism flights, possibly in conjunction with Etihad's latest acquisition, Darwin Airline (Lugano).