German government says Air Berlin bridging loan on schedule

BERLIN (Reuters) - A German government bridging loan for insolvent Air Berlin (AB1.DE) has not yet been paid out but the timetable for disbursing the credit is on schedule, a spokeswoman for the Economy Ministry said on Monday.

“There are a few technical details but the credit is there and everything is progressing according to the timetable,” the spokeswoman told a regular government news conference in Berlin.

The government has agreed a 150-million-euro ($179 million) loan to ensure that flights continue for a period of three months and to secure the positions of the airline’s 7,200 employees in Germany.

Reporting by Caroline Copley; Editing by Paul Carrel

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