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  Recovery & Insolvency, Reorganisation

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  Aviation

• 2017

airberlin technik GmbH: Peter Jark oversees takeover of ABT

Peter Jark was advisor on the NAYAK Group acquisition of Airberlin technik GmbH (ABT). As part of the insolvency of Air Berlin PLC & Co. Luftverkehrs KG iI, an application was made on August 15, 2017 for Airberlin technik to begin insolvency proceedings under self-administration. The company mainly provided maintenance services for Air Berlin group’s aircraft fleet in five locations. Airberlin technik, with around 1,000 employees, was one of the three largest aircraft maintenance providers in Germany. Due to dependency on capacity, the continued existence of the Air Berlin fleet was an influencing factor in the sale.

A significant reorganization was necessary for transfer restructuring to be a success. In addition to various restructuring measures, a selection according to a reconciliation of interests aligned to the purchaser concept was carried out within a very short space of time. A transfer company was then founded for approx. 70 percent of the employees and a new collective agreement was negotiated. The takeover secured around 30 percent of the jobs at Airberlin technik. It was only through a very specific and solution-oriented approach by all those involved that a positive result was achieved. The acquisition turned the NAYAK Group into the largest independent airline maintenance service provider in Europe.