Air Berlin (AB, Berlin Tegel) has announced that a consortium consisting of MRO provider Nayak and logistics company Zeitfracht has agreed to enter into a purchase agreement with the bankrupt German carrier to take over MRO subsidiary airberlin Technik later this week.

At least 300 employees will be retained by the consortium with 550 employees being transferred to transitional special purpose company allowing these affected employees to be paid while they are looking for new work. airberlin Technik provides base maintenance at three locations in Germany and line maintenance at 11 stations in Europe.

Air Berlin itself will suspend most operations on October 27.