Air Berlin narrows losses over Q2 with help from increased capacity
AFPFRANKFURT, Germany -- Air Berlin, Germany's number two airline, said Thursday it narrowed its losses in the second quarter, thanks to increased capacity utilization on a reduced number of routes on offer.
August 16, 2013, 11:49 am TWN
Air Berlin said in a statement that its net loss amounted to 38 million euros (US$50.5 million) in the period from April to June, compared with a loss of 99.8 million euros a year earlier.
On an underlying basis, too, the carrier was able to narrow its operating loss to 8.1 million euros from a year-earlier loss of 29.4 million euros.
Revenues were stable at 1.11 billion euros in the April-June period compared with 1.13 billion in the second quarter of 2012.
The number of routes flown in the second quarter decreased from 520 in 2012 to 440 in the current year and capacity utilization increased by four percentage points, to 83.7 percent.
Nevertheless, he cautioned that “as a result of the generally muted economic conditions and the market environment, the ability to reach our targets is becoming increasingly challenging.”
But Prock-Schauer insisted that Air Berlin's efficiency-boosting program would “bear fruit later in the year.”