Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Air Berlin March Capacity Utilization Rises, Despite Lower Passenger Nos

Air Berlin Plc (AIBEF.PK), Germany's second-largest airline company, on Thursday reported a decline in capacity and passenger numbers in the month of March as well as first quarter. However, capacity utilization increased 'in the context of its "Shape & Size" efficiency-increasing program'

Capacity for the month declined 6.7 percent from last year in a targeted manner to 3.29 million. The number of passengers for the same month decreased a mere 1.1 percent to 2.57 million passengers from 2.59 million passengers in March 2011.

Meanwhile, capacity utilization increased 4.4 percentage points to 78.1 percent from the prior year's capacity utilization rate of 73.7 percent.

For the first quarter of the year 2012, airberlin, partly owned by Gulf carrier Etihad, reduced capacity by 10 percent to 8.53 million and passenger numbers fell 5.3% to 6.87 million. From January to March, the company was able to increase its capacity utilization rate by 3.8 percentage points to 76.3 percent from 72.5 percent last year.

The company previously had said that its efficiency improvement program, which is anticipated to reach its full effect and unfold in the second half of the year, would show its effectiveness from the first quarter. The company plans to improve operating result by over 200 million euros in 2012 due to this program.

On March 16, Air Berlin said it was looking at the future more positively after reporting a sharply wider net loss for the year 2011, despite a nearly 14 percent growth in revenue. Its results for the past year were hurt by severe winter in Europe early in 2011, the Arab Spring, air-traffic control strikes and the threat of strike action.

Air Berlin shares are currently trading at 2.29 euros, down 0.01 euros or 0.43% on Frankfurt's Xetra.

Register
To receive FREE breaking news email alerts for Air Berlin plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.