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Air Berlin reports EUR75m net loss for 2008.


German airline Air Berlin reported today (30 March) a net loss of EUR75.0m for 2008, an increase from the loss of EUR39.9m in 2007.

Consolidated total revenue for the 12 months of last year was EUR3.40bn, up 6.7% from EUR3.19bn pro forma in the prior year.

Air Berlin said that its performance enhancement programme implemented in summer 2008 had led to a significant improvement in operating earnings. However the financial result worsened significantly, with substantially higher expenses for jet fuel and difficult conditions for the aviation industry. The airline also saw a high negative change in the fair value of cross currency interest rate swaps.

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Title Annotation:financial news
Publication:Airline Industry Information
Article Type:Brief article
Date:Mar 30, 2009
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