Air Berlin – all things considered – is doing alright

November 21st, 2009

German low-fare carrier Air Berlin has indicated today, that the 2009 debt level it presently carries may be reduced by around EUR100 million if the company sells some of its aircraft before the end of the fiscal year.

It’s present debt is circa 550 million Euro, down from 760 million Euro at the same time in 2008.

Based in Berlin, the company reported net income of 95 million Euro in the third quarter of 2009 – an increase of 111 percent over the previous year. Revenue fell this year by 8.2 percent; from 1.1 billion euro last year to 974 million Euro in the third quarter of 2009. The general economic downturn has diminished demand for air travel in Europe.

Air Berlin is Germany’s second largest airline after Deutsche Lufthansa AG and has further cost cutting potential, which could allow it to further reduce costs per passenger.

Tags: air berlin, News

This entry was posted on Saturday, November 21st, 2009 at 09:41 and is filed under Berlin, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.