Airberlin posts record loss for 2016
Airberlin has reported a E781.9m loss (US$824m) in 2016, deepened from a E446.6m loss in the year-ago period. The carrier said that 2016 and Q1 2017 were dominated by the transition to a new business model. The old business model and high restructuring costs had a huge impact on last year’s results. Full-year revenue was E3.79b, down 7% from E4.08b in 2015, while the EBIT loss was E667.1m, widened from a E307m EBIT loss in 2015. Restructuring costs of E334.8m included fleet harmonisation to Airbus aircraft, personnel-related provisions and consulting services. The revenue decrease in 2016 was primarily the result of a 4% capacity reduction. The threat of terrorism in the eastern Mediterranean region led to excess capacity and an associated fall in prices in the leisure sector. Yield declined 3.8% year-over-year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-01/oneworld/airberlin-posts-record-loss-for-2016
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Airberlin posts record loss for 2016
Airberlin has reported a E781.9m loss (US$824m) in 2016, deepened from a E446.6m loss in the year-ago period. The carrier said that 2016 and Q1 2017 were dominated by the transition to a new business model. The old business model and high restructuring costs had a huge impact on last year’s results. Full-year revenue was E3.79b, down 7% from E4.08b in 2015, while the EBIT loss was E667.1m, widened from a E307m EBIT loss in 2015. Restructuring costs of E334.8m included fleet harmonisation to Airbus aircraft, personnel-related provisions and consulting services. The revenue decrease in 2016 was primarily the result of a 4% capacity reduction. The threat of terrorism in the eastern Mediterranean region led to excess capacity and an associated fall in prices in the leisure sector. Yield declined 3.8% year-over-year. <br/>
