Etihad Airways said in a statement that it is "deeply disappointed" by the German court’s decision handed down.

"We are reviewing the judgment and will file an appeal against the decision early next week," the airline stated.

Etihad Airways owns 29.2 percent of airberlin, Germany’s second largest airline.

The social and economic damage to Germany by this decision is described as significant.

The withdrawal of approval for codeshare services on 29 routes materially reduces competition and consumer choice within and beyond Germany and causes inconvenience to passengers, the airline added.

"Notwithstanding, we will continue to stand by our partner, airberlin, to promote competition and offer a superior product and travel experience. We will continue to honor all booked itineraries,” the statement added.