Air Berlin reported a widening in its second quarter
net loss and is to sell off eight aircraft as part of its debt reduction
plan.
The airline achieved a 1.7 per cent rise in revenues, to €1.135
billion, but its expenses rose 2.5 per cent to €1.18 billion. Despite this the
operating performance improved slightly, to a loss of €29.4 million. For the
same period in 2011 it achieved a debit of €32.2 million.
Overall, the group saw its net losses widen to €66.2 million
from the year ago €43.9 million.
Eight aircraft are in the process of being sold from its fleet
as part of its ‘Shape and Size’ programme which intends to reduce its debts by a
number of measures including cutting capacity, cancelling unprofitable routes,
and reductions in flight frequency. Air Berlin has not posted a full year
operating profit since 2007 and currently has debts amounting to over €800
million.
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