Air Berlin falls further into debt despite revenue increase
Published: 30 Mar, 2009 CET.
Updated: Mon 30 Mar 2009 08:41 CET
Germany’s second largest airline Air Berlin fell deeper into debt in 2008, the company announced on Monday.
The company posted a loss of €75 million – up significantly from last year’s €39.9 million in losses, a statement said.
The airline did manage to draw a total revenue to €3.4 billion, a 6.7 percent increase.
“On the one hand the performance enhancement programme implemented in summer 2008 led to a significant earnings improvement on the operating level,” the statement said. “On the other hand, the financial result worsened significantly.”
The company said losses were due to higher taxes and “extreme volatilities cause by the world financial markets crisis.”
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The company posted a loss of €75 million – up significantly from last year’s €39.9 million in losses, a statement said.
The airline did manage to draw a total revenue to €3.4 billion, a 6.7 percent increase.
“On the one hand the performance enhancement programme implemented in summer 2008 led to a significant earnings improvement on the operating level,” the statement said. “On the other hand, the financial result worsened significantly.”
The company said losses were due to higher taxes and “extreme volatilities cause by the world financial markets crisis.”
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