Airline Code [BER]
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Tags :Continental Europe, Air Berlin
Air Berlin announced (27-Nov-08) increase in operating income by 57% over the corresponding quarter of the previous year. Net profit increased by 43.2%. This was the first quarter ever, in which turnover exceeded EUR 1 billion.
Air Berlin's CEO Joachim Hunold said, "This is the best quarterly result in our company history."
Although the number of passengers transported in the third quarter decreased from 8.8 (Q 3/07) to 8.6 million due to the elimination of unprofitable flight routes, revenue per available seat kilometre increased from EURO6.64 cents to EURO7.66 cents. Turnover increased from EUR 978 to EUR 1,062 million, i.e. an increase of 8.6 percent. Air Berlin's EBITDAR (Earnings before interest, leasing expenses, depreciation, amortization, interest and taxes) increased from EUR 177.7 to EUR 209.7 million, i.e. an increase of 18%.
Due to increased revenues and reduced expenditures, Air Berlin's EBIT (Earnings before interest and taxes) increased to EUR 89.1 million (Q 3/07: EUR 56.8 million), i.e. an increase of 57%. Net consolidated income improved from EUR 31.9 to EUR 45.6 million, i.e. a 43.2% increase.
Furthermore, the accumulated figures for the first nine months of the year show a clear performance improvement. Over the first nine months of 2008, Air Berlin transported 2.9 percent more passengers (22.1 million) than in the corresponding period of the previous year. Fleet capacity utilization increased from 77.7 to 79.2 percent, i.e. an increase of 1.5 percentage points. Turnover increased from EUR 2.424 to EUR 2.586 billion. EBITDAR increased from EUR 331.6 to EUR 383.1 million, i.e. an increase of 15.5%. Accumulated EBIT reached EUR 35.1 million (Q 3/07: EUR -9.5 million).
(c) Centre for Asia Pacific Aviation. Date posted: 28-Nov-08
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Air Berlin reports financials for third quarter 
