Air Berlin is late with the submission of the annual figures for 2015. Most competitors were able to check off the year. The fact that the balance would be red, also all industry observers was clear. But the sum of nearly half a billion euros on the negative side – with a turnover of around four billion – is expected but then scare some investors.
Late on Wednesday evening, the Berlin airline informed in writing that the net loss in the financial statements of nearly 377 million euros (2014) to just under EUR 447 million (2015) has widened. And in falling sales. The sales decreased two percent to 4.08 billion euros
The reason was Stefan Pichler, who runs the business since February 2015 , , among others, that Air Berlin 2015 only a very small extent by the low fuel price development was able to benefit. The company had previously protested hedged on unfavorable terms in contracts for fuel. The process is called hedging. Also of the euro strong US dollar had prevented better numbers
Air Berlin chief hopeful of favorable fuel price development
But:. “In 2016, we are of the relatively favorable fuel price development in profit of 250 million euros, “he announced. However, would even this sum, which results from the long-term comparison extremely low oil prices are not sufficient for a flight to the black
Pichler also made one-off effects, for example, costs of ongoing Group restructuring, contends:. This struck with 92 million euros. In the field there are also compensation for laid-off employees. Air Berlin followed for about four years, the strategy to discontinue all routes or reduce the frequency of flights on bring not enough profit. The hope: Thus, the utilization increases to the remaining of the flights and thus at the end sales and earnings per passenger. So it should be in a healthy airline also. But this reduction in capacity (six percent the previous year) end up costing obviously still money
Pichler turns out -. As its predecessors Joachim Hunold, Hartmut Mehdorn and Wolfgang Prock-Schauer – as quite creative in the positive interpretation numbers. “Although Air Berlin posted a full year loss of 446.6 million euros in fiscal 2015, showing significant operational indicators in the right direction,” he explained in writing. We’ve reorganized sales activities and developed a “focused business and network approach,” he stated in writing. “Overall, we were able to increase significantly for the first time in four years, the piece returns. In fiscal 2015, we generated additional revenues per passenger in our network of two percent “
New strategy:. Surface sectors and corporate clients
Pichler had introduced a new strategy in November, he with the the turn is targeting. With long-haul routes, cost reductions and a focus on corporate customers, the airline is to be brought back on track. At the latest by mid-2017, the leap into the black to succeed former reportedly.
Similar promises were also delivered its predecessor. But equity is eaten for years. Air Berlin depends the airline Etihad Airways, the state airline of the United Arab Emirates on a drip. Etihad holds over 29 percent in Air Berlin and is currently trying to cross the Berlin closely with the other half subsidiary Alitalia.
Partner Etihad benefits from Air Berlin passengers
Open is how long the sheikhs are already to bear the losses of Air Berlin. Also Etihad laid on Wednesday before his figures: Thus did the Arabs in 2015 a net profit of 103 million US dollars (94 million euros at the exchange rate end of 2015). Sales amounted to more than nine billion dollars (8.3 billion euros). Nevertheless, Air Berlin transported almost twice as many passengers.
Pichler emphasized how valuable Air Berlin Etihad is. We have introduced the partners more than 140 million euros of direct passenger revenue. This worked on together with a machine, but under different flight numbers (codes) conducted flights. This practice had provided last year for dispute with the Federal Aviation Agency – to Air Berlin and Etihad them by sat at the end of trial
What happens next if Pichler his strategy will adapt again to ever red from. fly numbers, he will explain on Thursday morning in a telephone press conference.
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