airberlin improves result for the second quarter of 2013
(firmenpresse) - (DGAP-Media / 14.08.2013 / 19:31)
- Operating result (EBIT) improved by two-thirds in yearly comparison
- Enhanced capacity utilisation, higher revenue per available seat
kilometer
- Turbine turn-around program will reach 2013 contribution target
- 80 percent of the Turbine contribution to earnings for 2013 already
attained
- Passenger numbers on flights within the Etihad Airways and airberlin
joint network exceed expectations
In the second quarter of 2013, airberlin improved its operating result
(EBIT) despite a difficult market environment. airberlin was able to
increase EBIT (earnings before interest and taxes) to EUR -8.1 million, an
improvement of two-thirds over the corresponding quarter of 2012 (EUR -29.4
million). EBITDAR (earnings before interest, taxes, depreciation,
amortization, and leasing expenses and rentals) increased by 12 percent to
EUR 166.4 million (2012: EUR 148.0 million). Despite a noticeable eight
percent capacity reduction, airberlin's total revenue at EUR 1.11 billion
remained at the level of the previous year (EUR 1.13 billion). airberlin
reduced its net loss for the second quarter to EUR -38.0 million, an
improvement of almost two-thirds over the previous year's corresponding
quarter (EUR -99.8 million).
Increased capacity utilization, RASK and Yield
In the second quarter, airberlin further increased its capacity
utilization, revenue per available seat kilometer (RASK) and revenue per
passenger. The number of routes flown in the second quarter decreased from
520 in 2012 to 440 in the current year, while the number of route
frequencies increased by 14 percent. Capacity utilisation increased by four
percentage points, to 83.7 percent (previous year: 79.7 percent). Revenue
per available seat kilometer (RASK) increased by 4.8 percent to 7.20
Eurocents (previous year: 6.87 Eurocents). Average yield (revenue per
passenger) increased to EUR 113.74 (previous year: EUR 112.85).
Presenting the second quarter results for 2013, airberlin's CEO Wolfgang
Prock-Schauer comments: 'An improved operating income, increased capacity
utilisation, increasing revenue per seat kilometer and stable revenue
despite capacity reduction, demonstrate that important key numbers are
moving in the right direction. The positive effects of our Turbine program
will bear fruit later in the year. As a result of the generally muted
economic conditions and the market environment, the ability to reach our
targets is becoming increasingly challenging.'
Turbine implementation according to plan
The implementation of Turbine is continuously progressing according to
plan, and will due to increasing challenges continue to be advanced as a
matter of priority over the course of the year. The focus remains on
increasing efficiency, expanding services, and negotiating with relevant
stakeholders.
airberlin has concluded new collective labor agreements with all relevant
employees. This is the first time that uniform collective labor agreements
have been concluded for all pilots and respectively for all cabin crew.
These long-term collective agreements enable planning reliability and give
airberlin the required flexibility for further restructuring and increasing
productivity. Personnel cutbacks are proceeding as planned, and by the end
of July, airberlin had eliminated 300 full-time positions.
Wolfgang Prock-Schauer comments: 'The Turbine program is progressing as
planned. The negotiations with our contracting partners have yielded
productive results, and we are continuously optimising our structure and
our operating performance. More than 80 percent of the Turbine program's
planned contribution for 2013 has already been attained, with respect to
both earnings and costs. Despite the challenging environment, we continue
to strive to reach the target figure of EUR 200 million for 2013. For the
coming winter flight plan, we will implement a streamlined concept of
aircraft-positioning, in order to use our fleet even more efficiently.'
Improved liquidity
At the end of the first half-year, airberlin had liquid assets amounting to
EUR 436.8 million at its disposal, those assets having grown by more than
one-third from EUR 315 million in the first half-year of 2012. Equity
capital at the end of the traditionally weak first half-year amounted to
EUR -116.3 million as at the reporting date of 30 June. As a valuation at
the reporting date according to IFRS, equity capital has no impact on the
economic operation of the company.
airberlin's Chief Financial Officer Ulf Hüttmeyer explains: 'The
traditionally weak earnings position in the first six months together with
the non-recurring charges stemming from our turnaround program lead to
negative equity capital. We expect the equity capital to increase over the
following quarters. The target of reaching an equity capital ratio of 15 to
20 percent in the medium-term remains unchanged.'
Partnerships exceed expectations
In the second quarter, the strategic partnership with Etihad Airways again
delivered strong growth in the number of airberlin passengers stemming from
the codeshare flights. The number of passengers more than tripled from
75,000 in 2012 to 267,000, based on a half-year comparison. With 449,000
passengers - this includes bookings made through July - the expectations
for the entire year for the common codeshare routes of Etihad Airways and
airberlin have already been exceeded. Furthermore, airberlin is benefitting
from codeshare agreements with partners of Etihad Airways' 'Equity
Alliance', including Virgin Australia, Air Seychelles and Air Serbia.
airberlin and Etihad Airways are also expanding their cooperation in other
fields such as maintenance and procurement.
The number of passengers travelling on oneworld(R) alliance flights
likewise exceeded expectations. In the first half of the year, 267,000
passengers had already traveled on codeshare flights operated by airberlin
and its oneworld partners.
airberlin is one of the leading airlines in Europe and flies to 151
destinations in 40 countries. In 2012, Germany's second-largest airline
transported more than 33 million passengers. Its strategic partnership with
Etihad Airways, which holds a 29.21 percent stake in airberlin, and its
membership in the global airline alliance, oneworld, provide airberlin with
a global flight route network. The airline boasts award-winning service and
operates codeshare flights with 16 airlines throughout the world. With an
average age of five years, airberlin's fleet is one of the youngest and
ecologically most efficient airlines in Europe.
Press Contact:
Uwe Berlinghoff
Senior Vice President Communications
Phone: +49 30 3434 1500
Fax: +49 30 3434 1509
E-mail: abpresse(at)airberlin.com
www.airberlin.com
www.facebook.com/airberlin
End of Media Release
---------------------------------------------------------------------
Issuer: Air Berlin PLC
Key word(s): Enterprise
14.08.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Air Berlin PLC
The Hour House, High Street 32WD31ER Hertfordshire, Rickmannsworth
United Kingdom
Phone: +49 (0)30 3434 159 0
Fax: +49 (0)30 3434 159 9
E-mail: ir(at)airberlin.com
Internet: ir.airberlin.com
ISIN: GB00B128C026
WKN: AB1000
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP-Media
---------------------------------------------------------------------
226017 14.08.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.08.2013 - 19:31 Uhr
Sprache: Deutsch
News-ID 287821
Anzahl Zeichen: 9576
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 215 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"airberlin improves result for the second quarter of 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Air Berlin PLC (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
