Wednesday, May 11, 2016

EUR 172 million in the red: Air Berlin expands the loss of – Handelsblatt

New figures, same direction

Air Berlin does not come from the losses out

(Photo: AP).

Berlin After a record loss in 2015 Air Berlin is the beginning of deeper flown into the red. The operating loss (EBIT) widened to 172 million euros, following a loss of 160 million euros in the same period last year, as Germany’s second largest airline announced on Wednesday. The discussion on the controversial Community flights with the partner Etihad and the attacks in Egypt and Turkey have charged the business, explained CEO Stefan Pichler. Turnover shrank by seven percent to 737 million euros.

Only after a long legal dispute, the Lüneburg Higher Administrative Court had in mid-January most of the disputed Community flights with Etihad approved. In the so-called codeshare flights receive Air Berlin connections a flight number of Etihad and vice versa. Air Berlin thus increasing aircraft utilization, while Etihad more destinations can offer the world. Etihad has repeatedly stressed that this is a major reason for entering the German partner. The Arabs keep the airline for years afloat. A financial cushion, Air Berlin has long ceased. End of March showed the airline negative equity of almost one billion euros from

Air Berlin -. Rapid ascent, years of turmoil

  • exactly 35 years ago raised the first Air Berlin airplane from. It all began with Allied special rights to land in the divided Berlin. After the turn Air Berlin grew to number two in the skies over Germany zoom, but now she puts years in the crisis.

  • 1978: founded as a charter company by the former Pan Am pilot Kim Lundgren. First flight on 28 April 1979 by Tegel to Mallorca. The fleet includes two machines

    1991. In April of LTU manager Joachim Hunold buys majority stake. There shortly after 15 flights per day. Air Berlin expands and stationed increasingly aircraft from regional airports

    1998:. The Mallorca Shuttle entry into scheduled air business

  • entry to 25 percent in the Austrian airline Niki of former racing driver Niki Lauda.

  • IPO and acquisition of dba.

  • purchase of holiday airline LTU, thus intercontinental flights.

  • 2008: Air Berlin slipped into the red, laying on the first savings program: routes are eliminated, aircraft are retired. The acquisition of the holiday airline Condor fails.

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    air Berlin announces 2012 entry into the airline alliance Oneworld on.

  • Hunold throws in the towel, Hartmut Mehdorn accepts. Another savings program aims to improve the operating result by 200 million euros. 18 of the 170 machines are sold.

  • the Arab state airline Etihad increases their share of almost 3 to 29.2 percent, and supports the airline with a 255-million-dollar loan. A new savings program starts. The sale of the frequent flyer program of major shareholder Etihad brings only temporary black again.

  • Wolfgang Prock-Schauer is CEO and exacerbates the of Mehdorn last year launched new austerity program. Every tenth job is eliminated, the fleet shrinks to 142 machines. 400 million euros are to be saved until the end, 2014.

  • Air Berlin says the balance sheet template from surprising and moves them to weeks. The speculation about the future of the airline reached a climax. Finally, it is clear: Etihad pumping more money into the airline

  • In February Stefan Pichler takes over the management of the ailing airline. He announces rapid remediation steps. “As of March it has to go blow for blow,” said Pichler.

  • Under the stitch Air Berlin was in the first quarter however, the loss decrease slightly, the net loss shrank by 13 percent to 182 million euros. “Essentially, our business developed in the right direction, and we will achieve in 2016 significant improvements in results in particular from the second half,” said Pichler.

    With long-haul routes, cost reductions and a focus on corporate customers, he wants the Lufthansa bring rivals back into shape. In the company message management now did not provide any specific earnings forecast for the full year. Pichler had recently found a “significantly better operating result” in view, according to a decrease of 307 million euro in 2015

    Airlines charged to the travel weak start quarter mostly losses -. Money is earned as a rule only in the peak summer season , Lufthansa also launched with red numbers to the year, was the operating loss decrease, however, thanks to good shops in the passenger division and lower fuel expenses.

    aviation consultant Gerald Wissel to Air Berlin “A further cost reduction is not a strategy”

    Premium Air Berlin fiscal year ended with a huge minus. In this interview, which specializes in aviation consultant Gerald Wissel of the reasons for the poor performance and possible consequences. more …


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