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airberlin Group reports widening losses in 1Q2011

19-May-2011

airberlin Group revenue rose 2% for the three months ended 31-Mar-2011, but its losses widened.

The group's financial highlights for the quarter were as follows:

  • Revenue: EUR751.6 million, +2.0% year-on-year (On a pro forma basis with 1Q2010 results including NIKI, which was consolidated from 3Q2010);
  • Operating costs: EUR941.6 million, +11.2%;
    • Fuel: EUR195.5 million, +22.2%;
    • Airport charges: EUR199.0 million, +5.4%;
    • Labour: EUR113.0 million, -0.9%;
  • EBITDAR (loss): (EUR25.7 million), compared with a profit of EUR40.2 million in p-c-p;
  • EBITDA (loss): (EUR167.3 million), compared with a loss of EUR78.1 million in p-c-p;
  • EBIT (loss): (EUR188.3 million), compared with a loss of EUR106.5 million in p-c-p;
  • Net profit (loss): (EUR120.6 million), compared with a loss of EUR102.4 million in p-c-p;
  • Passenger numbers: 6.9 million, +1.9%;
  • Passenger load factor: 72.5%, -2.2 ppts;
  • Total revenue per ASK: EUR 5.89 cents, -1.0%;
  • Yield: EUR 7.17 cents, -3.1%;
  • Total assets: EUR2592 million, +9.4% when compared with the period ended 31-Dec-2010;
  • Cash and cash equivalents: EUR411.5 million, +0.1% when compared with the period ended 31-Dec-2010;
  • Total liabilities: EUR2216 million, +18.8% when compared with the period ended 31-Dec-2010.

CEO Joachim Hunold said: "Since demand and bookings are showing a positive trend, we continue to anticipate higher revenue and a positive operating result for the 2011 business year, provided that the framework conditions do not further deteriorate. We expect a 4 to 5% increase in the number of passengers and a higher seat load factor."

Selected European daily share price movements (% change): 18-May-2011


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