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For Air Berlin is what the rehabilitation program, according to CEO Stefan Pichler all or nothing. After years of losses gapes in the equity position of the airline a hole in millions
For Air Berlin is what the current restructuring program in the opinion of CEO Stefan Pichler all or nothing. “This is our last shot, we have to make it now, there’s no second try more”, Pichler said the “Sueddeutsche Zeitung” from Saturday.
After years of unsuccessful rehabilitation period under ex-head of Deutsche Bahn Hartmut Mehdorn and his successor Wolfgang Prock-Schauer inside out Pichler the Group had approximately 9000 employees around. “We do not anticipate that we will again need money this year,” said the reigning since February, Air Berlin CEO.
Should the airline, in its capital base after years of losses gaping hole of 560 million euros, but need fresh funds, it is expected to be tight. “The turning point we have to deal with on its own,” said Pichler. “No one likes throwing bad money after good.”
The Arab airline Etihad bought in 2011 almost 30 percent of the shares of Air Berlin and holds the company since then with cash injections in the air. The Community flights of Air Berlin Etihad are competitors such as Lufthansa an eyesore. These so-called codeshare agreements should remain an isolated incident, a spokesman for the Federal Transport Minister Alexander Dobrindt had declared in April.
Pichler nevertheless expressed confidence that the community will continue to flights approved. He assumes that “you do not want to bear the responsibility in the federal government to destroy a company with 9,000 jobs and introduce a monopoly in some areas again”.
Through the codeshare agreements receive Air Berlin connections within Europe and of Germany in the United Arab Emirates flight number of Etihad. Air Berlin thus increasing aircraft utilization, while the major shareholder Etihad more destinations can offer the world.
Pichler had already indicated in its balance sheet for the first quarter, that it will go this year again to the point: The fleet will just checked, as the route network , He wants to curtail the remote back and forth, Air Berlin is to focus more on the locations where the company is already strong, and increase its market share in the major central airports such as Berlin and Dusseldorf. Currently, the company
comes to 33 percent in Berlin and 31 percent in Dusseldorf.
“If we earn on certain routes no money, then we take out the tracks” says Pichler. He wants to examine the air freight business and the technology area, actually everything.
Source: RTR with
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