Airberlin posts big 1Q loss
Airberlin has posted a bigger than expected loss for 1Q 2011. Its net result declined from €-94m in 2010 to €-121m ($-172m).
The airline blamed unrest in Northern Africa, air transportation tax, the price of kerosene and the absence of Easter-related tourism business due to Easter falling in the second quarter for the result. CEO Joachim Hunold said: “Since demand and bookings are showing a positive trend, we continue to anticipate higher revenue and a positive operating result for the 2011 business year, provided that the framework conditions do not further deteriorate. We expect a four to five per cent increase in the number of passengers and a higher seat load factor.”
