Tous Actualités
Suivre
Abonner Air Berlin PLC

Air Berlin PLC

EANS-News: Air Berlin PLC
airberlin books solid results

London/ Berlin (euro adhoc) -

Third quarter results make up for the first half-year – Indebtedness 
significantly lowered – Equity ratio improved – Capacity reduction 
due to air travel tax – Additional cost-saving measures
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Financial Figures/Balance Sheet/9-month report/ Q3 Figures
Subtitle: Third quarter results make up for the first half-year – 
Indebtedness significantly lowered – Equity ratio improved – Capacity
reduction due to air travel tax – Additional cost-saving measures
airberlin reached an operating profit
(EBIT) of EUR 171.7 million for the third quarter of 2010; however, 
the accumulated figures for the first nine months of the year could 
have been better: The harsh winter and the flight cancellations 
caused by the volcanic ash cloud from Iceland reduced EBIT to EUR 
44.8 million. As at 30 September 2010, the net result for the first 
nine months amounted to EUR -14.6 million.
Total revenue for the quarter reached EUR 1.241 billion, i.e. is a 5 
percent increase over the corresponding quarter of the previous year.
Due to the capacity increase, yield decreased by 2.2 percent to EUR 
103.93. Analogously, revenue per available seat kilometer decreased 
by 2.9 percent to 6.79 Eurocents.
Conversely, cost per available seat kilometer (ASK) for the first 
nine months of 2010 was lowered by 3.6 percent, in the third quarter 
even by 4.3 percent. Air Berlin PLC's net indebtedness was 
significantly reduced, namely from EUR 574 million to EUR 438 
million. This figure, however, also includes EUR 132 million for the 
first-time consolidation of the Austrian subsidiary, NIKI. The equity
ratio improved to 22 percent as compared to 20 percent in the 
corresponding quarter of the previous year.
Promising economic data and increasing consumer confidence encouraged
airberlin's Management to expand the fleet during the first nine 
months of the year. Seat capacity was increased by 4.9 percent, in 
the third quarter even by 9 percent. However, the air travel tax 
which will become effective as of January 2011 is prompting the 
company to change its course. Since the charge is expected to amount 
to between EUR 160 and 170 million, capacity will be reduced by 5 
percent as of the beginning of the summer flight schedule 2011.
As airberlin's CEO Joachim Hunold stated in Berlin on Thursday: 
"Although the economic conditions remain favorable, we are cautious 
with respect to the coming year. In my opinion, the fierce 
competition on some flight routes will make it impossible to pass on 
the air travel tax to the passengers in its entirety. Therefore, we 
will reduce our capacity by five percent, and reduce our fleet by 
seven aircraft, instead of carrying out the originally planned 
increase."
end of announcement                               euro adhoc

Further inquiry note:

Peter Hauptvogel
Director Corporate Communications
Tel.: +49 (0)30 3434 1500
Fax: +49 (0)30 3434 1509
E-Mail: abpresse@airberlin.com

Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: SDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

Plus de actualités: Air Berlin PLC
Plus de actualités: Air Berlin PLC