Air Berlin (AB) reported a 2011 net loss of €271.8 million ($358.2 million), widened from a net deficit of €97.2 million in 2010 .
The carrier will formally join oneworld Tuesday in a ceremony at Berlin Brandenburg Airport .
In explaining the deepened 2011 loss, the carrier cited taxes, high fuel prices, Europe's severe winter, the Arab Spring and air traffic control strikes and strike threats. AB's 2011 revenue increased by 13.7% year-over-year to €4.23 billion. It carried 35.3 million passengers last year, up 1.2%.
“Despite record figures for turnover and passenger numbers, we cannot be satisfied with the 2011 results,” interim CEO Hartmut Mehdorn said in a statement. In particular, the introduction of an air traffic tax (€165.6 million) and the rise in fuel costs (€229.2 million) added €395 million to the company’s expenses in 2011 compared to 2010. AB has not posted an operating profit since 2007, and has said previously it is difficult to predict whether it will breakeven in 2012 given the uncertain global outlook.
AB, 29.2%-owned by Etihad Airways , has implemented an efficiency improvement initiative, Shape & Size, that aims to make the carrier profitable by 2013.
AB Austrian partner FlyNiki will become an oneworld affiliate member when AB joins the alliance Tuesday.
Article Source : ATW Daily News
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