Air Berlin was Germany's second-largest airline — and it lost money for 10 straight years

Air Berlin, founded in 1978, grew to become Germany's second-largest airline and the sixth-largest in Europe. At its peak, it operated 140 aircraft and flew 33 million passengers a year. But the airline was structurally unprofitable — it lost money every year from 2008 to 2017, accumulating over €2 billion in losses.

Etihad Airways, Abu Dhabi's flag carrier, acquired a 29% stake in Air Berlin in 2011 and kept it alive with over €2 billion in loans and guarantees. The investment was strategic: Etihad wanted a European partner to feed its long-haul flights. But Air Berlin's losses continued, and Etihad's patience ran out.

On 15 August 2017, Etihad withdrew its financial support. Air Berlin filed for insolvency the same day. The German government provided a €150 million bridging loan to keep planes flying during the wind-down. Lufthansa acquired most of Air Berlin's routes and aircraft. The airline that had flown 33 million passengers a year was dismantled in months.