BERLIN (dpa-AFX) – The ailing airline Air Berlin & lt; AB1.ETR & gt; slowly making up ground. First time in five years, scored Germany’s second largest airline in a second-quarter net profit, as the company announced on Wednesday. Group sales also rose compared to the same quarter a modest 2.9 percent. The operating profit despite a slight improvement with minus 6.9 million euros, however, remain negative.
Air Berlin can keep for a long time only with million dollar cash injections by major shareholder Etihad from Abu Dhabi to water. The Arabs had recently made a convertible 300 million euros of fresh money. Etihad 29.9 percent in Air Berlin. With the convertible bond, the Arabs could theoretically increase this share to 70 percent.
Recapitalization Air Berlin has indicated that currently 600 million euros in cash and an additional 300 million euros of unused credit. Shareholders’ equity stood at the end of the first half at minus 270 million euros.
“The bottom line is we are better off than a year ago. But that is not enough,” said airline CEO Wolfgang Prock-Schauer. Air Berlin will – as announced in the spring – restructured. The three segments of Europe, tourism and long-distance should be operated.
In the route network is Germany’s second largest airline will however continue to increasingly focus on the major travel markets in Germany, Austria, Switzerland and Palma de Mallorca. The new route network means reduced by ten percent capacity. The fleet will again shrink to ten aircraft. More details will Air Berlin imagine the end of September. / Tam / DP / he