Air Berlin reports EUR75 million net loss in 2008
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.
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