EasyJet confirms acquisition of Air Berlin assets

As a result of the acquisition, EasyJet will operate 25 aircraft from Berlin Tegel Airport. The agreement includes EasyJet leasing former Air Berlin aircraft, taking over other assets including slots, and offering employment to former Air Berlin flying crew.

Chief executive Johan Lundgren said: "EasyJet looks forward to building on the presence we already have in Berlin to bring more choice and lower fares to consumers and support more economic growth in the states of both Berlin and Brandenburg.

"This move is consistent with EasyJet's strategy of purposeful investment in strong number one positions in Europe's leading airports. As a result of our acquisition, EasyJet will operate the leading short haul network at Tegel connecting passengers to and from destinations across Germany and the rest of Europe. This is in addition to EasyJet's existing base at Berlin Schönefeld and means that EasyJet will be the leading airline to and from Berlin."

London Capital Group analyst Jasper Lawler said: "Expansion in Berlin offers EasyJet both the safety of Germany’s large economy and diversification away from the UK where a weak pound is a headwind to passenger numbers in 2018."

At 0850 GMT, EasyJet shares were up 0.1% to 1,418p.