Airberlin widens net loss in 1Q

Airberlin reported a first-quarter net loss of E293.3m, widened from a E182.3m net loss in the year-ago period as a result of turnaround measures. Revenue fell 11.9% to E649.6m, while expenses increased 1.9% to E930.5m, producing an operating loss of E272.3m, deepened from a E172.2m operating loss in the prior-year quarter. Etihad Airways equity partner airberlin is repositioning itself as a network airline, with a fleet of 75 aircraft operating from two key hubs at Berlin and Dusseldorf. The majority of this transition will happen in the first half of 2017. “It is to be expected that any changes made to the network during this transitional phase can result in some intermittent fluctuations in efficiency and utilization,” airberlin said. “These fluctuations had a significant effect on the operating development in the reporting quarter. As a result, the 2017 first-quarter operating and financial results and key figures cannot be compared to the previous year’s figures.” The numbers were also hit by adverse weather, strikes and capacity bottlenecks at Berlin Tegel, the airline said.<br/>