airberlin closes the third quarter with improved EBIT
(firmenpresse) - (DGAP-Media / 13.11.2013 / 19:34)
- Year-on-year EBIT improves by 14% to 115.6 million euros
- Revenue per available seat kilometre and revenue per passenger slightly
increased, occupancy stabilised
- Turbine turnaround programme reaches target for the whole year
- Strong growth in passenger numbers over the combined Etihad Airways and
airberlin network
- Difficult market environment expected for the six-month winter period
Despite lower demand during the height of summer and further reduced
capacity compared to the same period last year, airberlin has been able to
increase earnings before interest and tax (EBIT) by 14% to 115.6 million
euros (101.2 million euros last year) in the third quarter.
During the third quarter, airberlin increased revenue per available seat
kilometre (RASK) to 7.66 cents (7.62 cents last year) and revenue per
passenger (yield) rose to 124.90 euros (122.20 euros last year). airberlin
was able to keep occupancy high at 87.3% (87.7% last year).
Overall revenue has seen a change of 3.5%, amounting to 1.35 billion euros
(1.40 billion euros last year) with 3.9% less capacity (available seat
kilometres). Despite the increase in some important cost positions in the
reporting quarter operating expenses declined above-average by 4.9% to EUR
1,246.5 million after EUR 1,311.0 million in the course of implementing the
Turbine turnaround programme. Equity capital increased in the course of the
third quarter as of the deadline of 30th September by over 100 million
euros to -6 million euros. As of such deadline, airberlin had liquid assets
of 312 million euros, which is 94 million euros more than on the previous
year's deadline, resulting in it having sufficient liquidity.
When presenting the results for Q3 2013, airberlin CEO Wolfgang
Prock-Schauer commented: 'Under difficult market conditions we have been
able to improve earnings and increase significant key figures such as RASK
and yield. We continue to fly with good occupancy. Despite the third
quarter having gone well, we have been unable to meet our earnings targets,
although our Turbine turnaround programme contributes to the 2013 earnings
as planned. Market conditions and special external factors prevented us
from doing so. In addition, we will be faced with a difficult six-month
winter period.'
After the first nine months of the year and in light of the continuing
challenging market conditions, the company should now only be able to come
close to achieving market consensus with positive one-off effects and
higher other operating income in 2013.
This is currently being pursued.
Contribution to earnings by Turbine for 2013 achieved
The implementation of Turbine is continuing according to plan. airberlin
was able to make significant progress in negotiating with relevant
stakeholders, optimising the route network, increasing productivity and
adjusting the workforce.
In this way, airberlin has successfully concluded the negotiations with
leasing companies and achieved improvements by negotiating with airports.
airberlin has also continued to optimise its route network and increased
the frequency of established profitable routes. Staff reductions are
running according to plan. 562 full time posts had already been eliminated
by the end of September when compared to the same period last year.
The next steps for further implementing Turbine have already been
introduced. airberlin has launched the Service Center as part of a joint
venture with the call centre specialists Competence Call Center, with
around 250 staff moving over to the new company. airberlin has reduced the
number of its aircraft stations from 15 to 10 and will further increase
productivity by allocating a single type of medium-haul aircraft to five of
these stations. airberlin has also implemented the newly introduced, more
efficient boarding process and improved the hand baggage handling procedure
with the current winter schedule, resulting in noticeably shorter
turnaround times leading to improved passenger comfort and lower costs for
airberlin.
Joint network with Etihad Airways increasingly popular
The exponential growth in passenger numbers on the joint network with
Etihad Airways also exceeded forecasts in the third quarter. 155,591
passengers used Etihad Airways and airberlin's joint network in the third
quarter, a year-on-year increase of 25.8%. Expectations for the whole year
have already been exceeded with over 537,000 passengers - including all
bookings already made before October - on Etihad Airways and airberlin's
joint route network.
Within the Etihad Airways Equity Alliance airberlin is cooperating with Air
Serbia with pilot training and providing pilots for Airbus in the winter
months. Codeshare connections to Australia have been agreed with Virgin
Australia which are progressing very positively for airberlin. Talks are
currently being held with the new member Jet Airways from India about
possible ways of working together.
Passenger numbers for the oneworld(R) alliance are also exceeding
expectations. During the third quarter 204,916 passengers used the
codeshare routes shared by airberlin and its oneworld partners.
airberlin is one of the leading airlines in Europe and flies to 151
destinations worldwide. The second largest airline in Germany carried more
than 33 million passengers in 2012. airberlin offers a global route network
through its strategic partnership with Etihad Airways, which has a 29.21%
share in airberlin, and through membership in the oneworld airline
alliance. The airline with the award-winning service operates codeshare
flights worldwide with 16 airlines. The fleet has an average age of five
years and is among the most modern and eco-efficient in Europe.
Press contact:
Uwe Berlinghoff
Senior Vice President Communications
phone: +49 30 3434 1500
fax: +49 30 3434 1509
email: abpresse(at)airberlin.com
www.airberlin.com
www.facebook.com/airberlin
End of Media Release
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Issuer: Air Berlin PLC
Key word(s): Enterprise
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Language: English
Company: Air Berlin PLC
The Hour House, High Street 32
WD31ER 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,
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End of News DGAP-Media
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