Air Berlin boss announces radical capacity and fleet cuts
The chairman of Air Berlin, Joachim Hunold, has resigned after announcing rising losses and a radical savings plan. Germany’s second biggest airline suffered a €32 million second-quarter loss, bigger than the €28 million Q1 loss. Hunold blamed high jet fuel prices, the turmoil in North Africa and a new airline tax. The savings plan will cut capacity by more than a million seats by the end of the year and another million next year. All flights to the UK, for example, will disappear.
Hunold is to be replaced from the start of September by Hartmut Mehdorn, a former chairman of Deutsche Bahn. Hunold, who had led the airline since 1991, will stay on as non-executive director.