Air Berlin said it is launching another cost-reduction programme, dubbed Turbine 2013, which could reportedly result in more than EUR100 million in further annual savings, as reported by Frankfurter Allgemeine Zeitung, dpa and aero.de. "The company is reacting to a further worsening of the economic environment, the weak euro and consumer behaviour that is marked by growing uncertainty," the carrier said. It said Germany's air travel tax and persistently high fuel prices have created additional cost pressures on the carrier. The carrier has failed to post a full-year operating profit since 2007. The new programme will complement the existing 'Shape & Size' cost reduction efforts.
19-Oct-2012 2:31 PM