ATW Daily News
Air Berlin says third-quarter result 'distances' it from rivals
Friday November 20, 2009Air Berlin officials yesterday touted their strong third-quarter results, first reported Wednesday (ATWOnline, Nov. 18), with CFO Ulf Huettmayer telling analysts and reporters that the more than doubling of its net income to €95.2 million ($142.4 million) "distances ourselves from other carriers" struggling through the economic downturn. CEO Joachim Hunold said AB's results "would be better by €10 million. . .if we hadn't been faced with a strike, some terror attacks in Mallorca and swine flu." Huettmayer said the carrier has €450 million in available cash and predicted that full-year earnings before interest and tax will surpass the 2008 figure even with fourth-quarter yields expected to be slightly lower. He added that slightly increased demand will help make up for the dip in yields.
by Kurt Hofmann
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ATW Media Group
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