The German airline airberlin recently filed for bankruptcy, though flights are continuing for at least the next three months, thanks to an emergency loan from the German government.

The company operates low-priced short haul flights within Europe, and more recently has been offering cheap trans-Atlantic flights between the US and Europe. They also own and operate Austrian-based discount airline Niki, originally founded by racing driver Niki Lauda. The company has been losing money for years, and Abu Dhabi-based airline Etihad, one of the company's major shareholders, finally pulled the plug on providing more operating cash.

Lufthansa, Germany's largest airline, is currently in talks to buy airberlin.

Tags: Airberlin