Air Berlin reports EUR75 million net loss in 2008

Air Berlin reported a worsening in net losses to EUR75.0 million in 2008, despite the benefits derived from its “Jump” cost optimisation programme. During the 12 month period, the airline reported a 34.1% year-on-year increase in revenue to EUR3.4 billion, after strong 3Q08 revenue results in which its reported its first quarterly revenue in excess of EUR1 billion (at EUR1.1 billion, a 23.8% year-on-year increase). Air Berlin's EBITDAR in 2008, meanwhile, improved 25.8% year-on-year to EUR476.8 million, while its EBIT result was down 33.6% to EUR14.2 million. [2245 words]

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This report contains the following subheadings:

• Recession an opportunity: increasing focus on business sector
• Revenue from business travellers (EUR million)
• Changing LCC model to hybrid business model
• Cutting capacity; only domestic market on expansion course
• Costs on the rise again
• 'Jump' programme: improvements of EUR150 million p/a
• 2009: An anniversary year with new challenges
• 2009: Focused strategy in 2009 and 2010, but much depends on the economic climate

This report contains the following charts and tables:

• Air Berlin (including LTU and Belair) financial highlights for 2008
• Company contract growth: 2005 to 2008
• Air Berlin's hybrid model
• Air Berlin vs AEA passenger growth (% change year-on-year): Jan-2008 to Feb-2009
• Operating performance by business unit: 2007 vs 2008
• Domestic German and Palma de Mallora hub market share developments in 2008
• Air Berlin fleet composition: 2007 vs 2008
• Air Berlin cost per ASK including fuel: 2007 v 2008
• Air Berlin cost per ASK excluding fuel: 2007 v 2008
• 'Jump' programme six-module focus for current financial year
• 2009 planning
• Domestic operations 2009 developments
• Intra-European 2009 developments
• Euro Charter 2009 developments
• Intercontinental 2009 developments
• Air Berlin fleet adjustment plan: 2009
• Air Berlin hedging profile and fuel price development: 2009