airberlin has confirmed that this sale of the shares it indirectly holds in Niki Luftfahrt agreed with Etihad will go ahead.
The deal will proceed at a time to be agreed and in a manner compliant with European Union regulations.
“Etihad and airberlin will provide further details in due course,” a statement from the carrier said.
Until this sale is completed, Niki will continue to operate as a separate business unit within the airberlin group with a focus on short and medium-haul leisure destinations.
The Niki flight schedule for winter 2017 has been published and all bookings remain valid.
Thomas Winkelmann, chief executive, airberlin said: “Within the airberlin group there will be two clearly identified separated divisions: flights to long-haul destinations and to major business centres throughout Germany, and the rest of Europe, will be operated by airberlin from Dusseldorf and Berlin.
“Niki, as a standalone business, will offer flights to popular leisure destinations for holidaymakers.
“With this, both the new airberlin, and the leisure business operated by Niki, can be properly addressed with the right organisation and resources until the acquisition of Niki is completed.”
The deal was announced in December 2016.
However, it was thrown into doubt after talks between TUI Group and Etihad on a proposed joint venture involving Niki were called off.
Ray Gammell, interim chief executive of the Etihad Aviation Group, added: “We continue to support the efforts of the airberlin management team as it continues its transformation.
“Similarly, our commitment to support Niki still stands and we aim to finalise the transaction soon.”