Debt-ridden Air Berlin to sell eight aircraft

“The sale is expected to result in a profit,” airline says

In an effort to cut its debt, Air Berlin has decided to sell eight of its planes by the end of the year, saving around €300 million. It currently has a fleet around 150 aircraft but the majority are leased. It owns 26 planes.
“The sale is expected to result in a profit,” the airline explained. “Both the equity ratio and the liquidity position will noticeably benefit from the transaction.” In cost cuts already implemented, Air Berlin – which has not had a full-year operating profit since 2007 – has cut unprofitable routes and postponed aircraft orders. But net debt remained high in H1 2012, at €812 million.
Reuters

x

Check Also

easyJet, Oslo, Gothenburg, Berlin, flights, travel, Tegel, Air Berlin, 23, Stockholm, Helsinki, Copenhagen

Two new Nordic Berlin routes fill vacuum

easyJet is filling many holes left by Air Berlin, launching routes from Germany to a number of Scandinavian airports.

Virgin, Atlantic, lease, A330, aircraft, seating, premium economy, Air Berlin, flights, travel

Virgin Atlantic adopts Air Berlin A330s

Virgin takes delivery of the first of four A330s it is leasing from bankrupt Air Berlin.

Lufthansa beats Ryanair as Europe’s top airline

Lufthansa Group as a whole carried 130 million passengers in 2017

Niki, Austria, Lufthansa, IAG, buy, airline, Lauda, deal, bid

IAG buys Niki: what to watch for

Are IAG and Vueling the deal’s only winners?

EU blamed as Niki files for bankruptcy

Lufthansa’s attempted takeover allegedly stopped by EU

Niki, Austria, Lufthansa, IAG, buy, airline, Lauda, deal, bid

Lauda accuses Lufthansa of destroying Niki

Former owner says Lufthansa is blocking Niki’s sale