EasyJet's shares fuelled by Air Berlin deal

 
Helen Cahill
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Passengers Board EasyJet Flight
EasyJet will hire Air Berlin pilots (Source: Getty)

EasyJet's share price climbed this morning as the airline confirmed its plan to buy part of Air Berlin.

The company will take on part of Air Berlin's operations at the German capital's Tegel Airport for €40m (£35m).

EasyJet will lease up to 25 A320 aircraft and will offer jobs to Air Berlin's crews. The carrier hopes to recruit 1,000 pilots and cabin crew and will employ them on local German contracts.

Read more: EasyJet's new platform lets you book long-haul flights with other airlines

Air Berlin filed for insolvency after its largest shareholder, Etihad, ended its financial support for the firm.

At time of writing, EasyJet's share price was up 1.41 per cent to 1,291p.

EasyJet said in a statement: "This agreement is consistent with EasyJet's strategy of purposeful investment in strong number one positions in Europe's leading airports (or number two to a legacy incumbent).

"This will enable EasyJey to operate the leading short-haul network at Tegel, connecting passengers to and from destinations across Germany and the rest of Europe."

The airline said it will set up new routes from Tegel. However, it will run a reduced timetable over winter, with its full schedule set to resume next summer.

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