The Europe’s third-biggest low-cost airline—Air Berlin just announced that the US billionaire—Len Blavatnik, another cash strapped victim of credit crisis, has been forced to sold his 18.9% stake in the carrier.
As Air Berlin remains an attractive target in a rapidly consolidating airline sector, this sale brings many great chances for the new buyers. However, the recorded trading volumes showed that Mr Blavatnik did not sell his stake in the German airline, which has a market value of 60 million euros, via the stock market. As a result, the market participants are left guessing who actually bought the holding.