Business | Aviation
Air Berlin loss narrows to 9.5m euros
Targets moderate growth and a noticeable increase in profit this year
- AP
- Published: 00:00 March 26, 2010
- Image Credit: Bloomberg News
- Air Berlin airplanes at Tegel airport in Berlin. The airline has improved after losing nearly 84 million euros in 2008.
Frankfurt: German airline Air Berlin yesterday said its net loss for 2009 narrowed to 9.5 million euros (Dh46.6 million) as it embarked on widespread cost savings and route reductions during the year.
The Berlin-based company lost nearly 84 million euros in 2008. The airline, Germany‘s second largest after Lufthansa, said revenue for 2009 fell 6 per cent to 3.2 billion euros from 3.4 billion euros in 2008.
Air Berlin, which offers both European and long-haul flights, says it expects to grow faster than the market and a "noticeable" increase in profits this year.
It also expects to surpass the 30 million passenger mark. In 2009, the company transported nearly 28 million people. The company said continuing efforts to improve performance and reduce costs should lead to growth.
"Air Berlin's business model proved its strength throughout the worst crisis in the history of the airline industry," Joachim Hunold, the company's chief executive, said in the report.
"Furthermore, we were able to strengthen our position in a challenging European market environment," he added.
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