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Air Berlin reports EUR75 million net loss in 2008

2-Apr-2009

Air Berlin reported a worsening in net losses to EUR75.0 million in 2008, despite the benefits derived from its “Jump” cost optimisation programme. During the 12 month period, the airline reported a 34.1% year-on-year increase in revenue to EUR3.4 billion, after strong 3Q08 revenue results in which its reported its first quarterly revenue in excess of EUR1 billion (at EUR1.1 billion, a 23.8% year-on-year increase). Air Berlin's EBITDAR in 2008, meanwhile, improved 25.8% year-on-year to EUR476.8 million, while its EBIT result was down 33.6% to EUR14.2 million. [2245 words]

Unlock the following content in this report:

Subheadings:

  • Recession an opportunity: increasing focus on business sector
  • Revenue from business travellers (EUR million)
  • Changing LCC model to hybrid business model
  • Cutting capacity; only domestic market on expansion course
  • Costs on the rise again
  • 'Jump' programme: improvements of EUR150 million p/a
  • 2009: An anniversary year with new challenges
  • 2009: Focused strategy in 2009 and 2010, but much depends on the economic climate

Graphs and data:

  • Air Berlin (including LTU and Belair) financial highlights for 2008
  • Company contract growth: 2005 to 2008
  • Air Berlin's hybrid model
  • Air Berlin vs AEA passenger growth (% change year-on-year): Jan-2008 to Feb-2009
  • Operating performance by business unit: 2007 vs 2008
  • Domestic German and Palma de Mallora hub market share developments in 2008
  • Air Berlin fleet composition: 2007 vs 2008
  • Air Berlin cost per ASK including fuel: 2007 v 2008
  • Air Berlin cost per ASK excluding fuel: 2007 v 2008
  • 'Jump' programme six-module focus for current financial year
  • 2009 planning
  • Domestic operations 2009 developments
  • Intra-European 2009 developments
  • Euro Charter 2009 developments
  • Intercontinental 2009 developments
  • Air Berlin fleet adjustment plan: 2009
  • Air Berlin hedging profile and fuel price development: 2009
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