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Air Berlin Reports Increase in Profits, Expects Revenue to Remain Stable

August 26, 2009 By: Jena Tesse Fox

Air Berlin, Germany’s second-biggest airline after Lufthansa, has reported a 33 percent jump in profits the second quarter, to $25 million from $19 million in the same period last year. The airline also said it expected revenue per seat to remain stable in the second half of the year.

Earlier this month, the airline said its load factor widened for the first time this year in July as it reduced capacity faster than the fall in demand for air travel. As a result, it has been managing to raise prices over recent months. Its number of seats on offer in July declined 3.4 percent.

In the second half of this year, it expects load factors to decrease slightly due to a further decline in demand. Revenues fell by 3.8 percent to $1.2 billion, in line with estimates. Air Berlin’s stock has fallen by nearly a quarter so far this year and have lost about 70 percent of its value since the company’s initial public offering in 2006.

The carrier also says it may cancel its order for 25 Boeing 787s because of delivery delays.

Air Berlin has also scaled down its long-haul services after its strategy to focus on business travelers failed and it was forced to close down new China routes.

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