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                                                                                      28.03.2007
                                                                                        Page 1/2



Air Berlin PLC successfully placed a combined equity and convertible
bond offering which was multiple times over-subscribed
 • 5.97 million new shares placed at €16.40 per share
 • Coupon of 1.50%, conversion premium of 37.0% and
    conversion price of €22.47 per share set for the €195
    million convertible bond
 • Total issue volume of €293 million


London, 28 March – Air Berlin PLC prices a combined equity and convertible
bond issue to raise aggregate proceeds of €293 million. Proceeds of the
issue, consisting of 5.97 million shares (€98 million) from a capital increase
and €195 million proceeds from the convertible bond to be issued by a
subsidiary of Air Berlin, will be used to finance the acquisition consideration
for LTU Lufttransport Unternehmen GmbH (“LTU”) as well as to refinance
€100 million of LTU’s debt and approximately €50 million of Air Berlin’s
existing debt.

The equity offering represents around 10% of Air Berlin’s outstanding shares
and was placed by way of a private placement with institutional investors
internationally, including a private placement to qualified institutional buyers
in the U.S. in reliance on Rule 144A under the U.S. Securities Act of 1933, at
a price of €16.40 per share. The new shares will be listed on the official
market (prime standard) of the Frankfurt Stock Exchange. Commerzbank
AG, Deutsche Bank AG and Morgan Stanley Bank AG are acting as Joint-
Bookrunners on the equity placement. Settlement of the equity offering is
expected on or about 4 April 2007.

The 20 year convertible bond was placed with institutional investors
internationally (excluding the US) with a coupon of 1.50%. The conversion
price per share was set at €22.47 representing a premium of 37.0% over the
equity placement price. At issue, each bond of €100,000 will entitle the holder
to receive 4,450 shares. Bondholders will be entitled to request an early
redemption on every 5th anniversary of the bond. The bond will be callable
by the issuer after 7 years, subject to a 150% hurdle rate relating to the
conversion price. Settlement of the bond issue is expected on or about 11
April, 2007.




Responsible:   Air Berlin PLC & Co. Luftverkehrs KG                 Tel.        +49 (0) 30 3434 1532
               Investor Relations                                   Fax         +49 (0) 30 3434 1509
               Saatwinkler Damm 42 – 43                             E-mail:     ir@airberlin.com
               13627 Berlin                                         Internet:   http://ir.airberlin.com
Investor-Relations-News



                                                                                          28.03.2007
                                                                                            Page 2/2



The convertible bond offering size was set at €195 million. Due to strong
demand the base size was increased from €150 million to €170 million and
was additionally increased by €25 million (the anticipated extension clause).
Additionally, Air Berlin has granted the Joint-Bookrunners a greenshoe option
of up to €25 million to cover over-allotments (if any) exercisable until the
settlement date. The total issue size may therefore increase to up to €220
million.

Air Berlin will act as the guarantor of the bond to be issued out its wholly
owned subsidiary, Air Berlin Finance BV, based in the Netherlands. Air Berlin
intends to seek a listing of the bond on the Euro MTF segment of the
Luxembourg Stock Exchange. Deutsche Bank AG and Morgan Stanley Bank
AG are acting as Joint-Bookrunners and Commerzbank AG as Co-lead
manager of the convertible bond placement.



Investor Relations-Contact
Dr. Ingolf T. Hegner
Head of Investor Relations
Tel.: +49 30 34 34 15 32




NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA (OR TO US
PERSONS), AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR
SALES WOULD BE PROHIBITED BY APPLICABLE LAW




Responsible:   Air Berlin PLC & Co. Luftverkehrs KG                     Tel.        +49 (0) 30 3434 1532
               Investor Relations                                       Fax         +49 (0) 30 3434 1509
               Saatwinkler Damm 42 – 43                                 E-mail:     ir@airberlin.com
               13627 Berlin                                             Internet:   http://ir.airberlin.com