Air Berlin reports 2011 net loss of €272m

Air Berlin PLC was able to increase turnover by 13.7% to €4.23bn in the reporting year 2011 (previous year: €3.72bn) and the number of passengers by 1.2% to 35.3m (previous year: 33.6m). Operational expenditure at the EBITDAR level increased by 20.6% from €3.16bn to €3.81bn. The increase in expenditure would have been distinctly lower without additional taxes and one-off effects. Because of this additional expenditure, the EBITDAR (result before interest, taxes, depreciation and rental costs) of €618.5m reduced by 31.1% to €425.9m during the financial year 2011. The EBIT (operating result before interest and taxes) fell from €-9.3m to €-247.0m. Contrary to this, the financial result improved from €-133.3 to €-111.9m. Lower financing costs contributed mainly to the lower level of costs. The pre-tax result in the 2011 financial year was €-358.8m after €-141.6m in 2010. After a tax credit of €87m, the net result for the reporting year was €-271.8m after €-97.2m in the previous year. Equity capital was €259.9m (previous year: €505.3m) and net indebtedness was €813.0m (previous year: €489.3m).