Air Berlin holds fast to operating result for 2010

Speaking to the shareholders, Hunold remarked: "Assuming normal flight operations, we are aiming for a further improvement of Air Berlin's performance in financial year 2010. Although we have lost passengers solely due to the volcanic eruption in Iceland, we want to achieve continued growth in selected European business sectors." Furthermore, the company wants to stabilise its liquidity at the current level and introduce additional measures to reduce net indebtedness. "Air Berlin has achieved the goals we set for 2009," said Hunold.

Hunold specifically criticised the German government's intention to impose a unilateral burden on German airlines in the form of a passenger levy: "This is a political decision that I find completely incomprehensible." He reminded his audience that the Federal Chancellor had said just over a year ago, on the occasion of Air Berlin's 30th anniversary, that no nation would go it alone as regards the emissions trading scheme. "And now we are going it alone as a nation," commented Hunold, his statement winning applause from the shareholders. He went on to say that it is quite unreasonable for a unilateral burden to be imposed on German airlines, while banks and the German car industry have received 5 billion euros in state aid. The German aviation industry is supposed to raise a tenth of the funds for the austerity package at a time when this low-margin sector is already bearing the brunt of the financial consequences of a tough winter and several days of the closure of European airspace.

In response to a question from shareholders as to the extent of Air Berlin's burden associated with the passenger levy, Hunold remarked: "Although the details of the levy have not yet been finalised, the government's aim is to raise 1 billion euros a year. Assuming a charge of between 8 and 15 euros per passenger, our additional liability could amount to 180 to 220 million euros a year. That is why we have no choice but to pass the levy on by increasing fares," announced Hunold. This would mean that the costs of a holiday for a family of four would rise by 60 euros. "I do not know what is supposed to be socially compatible about it," said Hunold, who was reelected to office with a large majority.

A shareholder commented on the passenger levy with the following words: "The state is now asking airlines for support, instead of helping airlines after the airspace closure." Other speakers called for the board's massive resistance to the levy.

In answer to a question from a shareholder, Hunold announced that the cooperation with Pegasus, the Turkish airline, which began in November 2010, is to be intensified on the basis of a code-sharing agreement.

The financial statements were approved by large majority and the board and its members discharged. The board members, Hartmut Mehdorn, Hans Joachim Körber and Peter Oberegger were reelected to their posts with overwhelming shareholder approval.