airberlin reports Q1 results

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP May 13, 2015 10:51

airberlin reports Q1 results

In the first quarter of 2015, airberlin reported a first-quarter net loss of €210.1 million, improving on the €209.8 million net loss reported for the same period a year ago. The Net profit decreased owing to higher interest expenditures and shifts in the market valuation of hedge instruments, the airline said.

EBIT rose to €-159.9 million, or €23 million over the same quarter last year. Revenue rose 4.2% to €793.7 million.

airberlin’s average yield at €121.66 represents a yield optimization of 4.2% as compared to the same quarter last year, and was achieved primarily through improvements in revenue management.

Available seat kilometres (ASK) increased by 1.5%. Capacity utilization in the first quarter of 2015 stood at 83.2%, a modest increase over the same quarter last year`s rate of 81.8%. Total revenue per available seat kilometre (RASK) was 6.71 eurocts (up 2.6% on Q1 2014: 6.54 eurocts).

Total costs per ASK (CASK) rose by 0.8% year-on-year, going from 8.14 eurocts to 8.20 eurocts.

Stefan Pichler, CEO of Air Berlin PLC, says: “We have an initial operational earnings impact from the reduction in capacity and a slightly improved yield management approach. At the same time, seasonal effects such as Easter have also positively influenced the result. Still, we are at the beginning of a long road to recovery.”

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP May 13, 2015 10:51