Airberlin key revamp plan on the anvil
Airberlin wants to bring a turnaround in its fortune sooner. The airline recently in a statement said that it aims to make Airberlin flights profitable once again.
Germany’s leading carrier Airberlin recently indicated that it is all set to reveal its key revamp plan aimed that steering the loss-making carrier again gain profitability starting next year. Airberlin is partly owned by UAE’s national flag carrier Etihad Airways.
Media reports said that Airberlin has envisaged a plan called Turbine 2013 that entails job cuts to bring the cash-strapped airline back to profitability.
Hartmut Mehdorn, Chief Executive of Airberlin, said that he was not ready to confirm or deny the latest reports in the German media regarding the airline’s turnaround. He however said that extraordinary measures are required and nobody can avoid this during these critical times.
Airberlin recently published its Q3 2012 results and reported an increase in its operating profit by 4.5 percent. The airline attributes this profit largely to cost cuts. The airline also said that its net debt had increased by 5 percent over the 3-month period to $1.1 billion (853 million Euros) at the end of the quarter.