Air Berlin’s 2015 net loss widens to E447m
Air Berlin’s net loss for 2015 widened 16% to E447m as the airline was hurt by fuel hedging losses and restructuring costs. Air Berlin has been trying to reduce debt and return to profit, but is facing tough competition in its home markets from LCCs as well as incumbent Lufthansa. “We have [Etihad’s] support for the aggressive and radical restructuring of our business. However, there are still hard decisions to be made, which require the clear support of key internal stakeholders,” said CE Stefan Pichler. Among cost cutting measures, the carrier slashed 6% of its capacity last year, scrapping routes to Dallas and Abu Dhabi recently. “Like the other restructuring initiatives, however, this will start to show benefits in our efficiency and cost base in the second half of this year,” said Pichler. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-29/oneworld/air-berlin2019s-2015-net-loss-widens-to-e447m
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Air Berlin’s 2015 net loss widens to E447m
Air Berlin’s net loss for 2015 widened 16% to E447m as the airline was hurt by fuel hedging losses and restructuring costs. Air Berlin has been trying to reduce debt and return to profit, but is facing tough competition in its home markets from LCCs as well as incumbent Lufthansa. “We have [Etihad’s] support for the aggressive and radical restructuring of our business. However, there are still hard decisions to be made, which require the clear support of key internal stakeholders,” said CE Stefan Pichler. Among cost cutting measures, the carrier slashed 6% of its capacity last year, scrapping routes to Dallas and Abu Dhabi recently. “Like the other restructuring initiatives, however, this will start to show benefits in our efficiency and cost base in the second half of this year,” said Pichler. <br/>
