Air Berlin
German carrier Air Berlin aircrafts are pictured at Tegel airport in Berlin. Reuters

Bankrupt German airline Air Berlin will reportedly stop flying at the end of October, according to reports in the company's home nation.

The DPA news agency said on Monday (9 October) that the carrier told employees that flights operating under its airline code "will no longer be possible after October 28 at the latest".

However, flights operated by subsidiaries Niki and LG Walter will continue, as neither carrier is insolvent.

Germany's second-largest airline filed for insolvency in August, after Abu Dhabi-based Etihad Airways, Air Berlin's main shareholder, withdrew its financial support after the latter racked up years of losses.

The airline is in advanced talks with rival Lufthansa for the sale of some aspects of its business, as it already leases aircraft to the German flag carrier.

Air Berlin undertook a restructuring exercise in 2016 to stem losses. That year, the airline confirmed it no longer owns any of its aircraft, having sold and leased back its fleet. It also announced it would be reducing the number of destinations it flies to from 140 to 70.

When the company filed for insolvency in August, a spokesperson for Air Berlin told IBTimes UK its flights would continue to "operate as normal" as the German government had stepped in to provide a temporary bridging loan.

The beleaguered carrier has been trying to find a buyer ever since, in a bid to avoid joining the list of 31 European airlines that have ceased operations since 2013.

News of Air Berlin's decision to cease flying comes a week after Monarch, Britain's fifth-largest airline, halted trading with immediate effect.

On 2 October, the Civil Aviation Authority revealed Monarch had entered administration, after failing to secure a temporary extension to its Air Travel Organiser's Licence (ATOL) for the third time in four years.

Some 750,000 future bookings were cancelled as a result, with around 110,000 Monarch customers stranded overseas. Approximately 2,000 Monarch employees lost their jobs.