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Germany rejects Ryanair claim that Air Berlin insolvency was staged

Reuters
An Air Berlin sign is seen at an Air Berlin storage hall in Berlin, Germany, August 15, 2017. REUTERS/Axel Schmidt

BERLIN (Reuters) - Germany on Wednesday rejected accusations by low-cost airline Ryanair (:RYA.I) that Air Berlin's (XETRA:AB1.DE - News) filing for insolvency protection was aimed at preparing the German carrier for a takeover by Lufthansa (:LHAG.DE).

An economy ministry spokeswoman also said a bridging loan of 150 million euros ($175.5 million) the government has granted Air Berlin did not breach anti-trust rules.

"I reject the accusation by Ryanair today that it was a staged insolvency application," the spokeswoman said. "We assume that the loan is conform with the law".

(Reporting by Joseph Nasr and Michael Nienaber; Editing by Maria Sheahan)