airberlin writes record loss

airberlin reported a preliminary operating result (EBIT) of €-278.8m to €-303.8m in the 2014 fiscal year (2013: €-231.9m) – a business year dominated by high restructuring costs. Total revenue for 2014 was €4.16bn (2013: €4.15bn) – an increase of 0.3% from the previous year. Allowing for expenses of €85m-€110m, which were incurred for the turnaround, the preliminary adjusted EBIT stands at €-193.3m. Restructuring measures include, inter alia, additional expenses associated with fleet harmonisation and workforce-related activities, among other things. The amount of the restructuring related measures to be recognised for the 2014 fiscal year is currently undergoing final review. As a result, the final Consolidated and Annual Financial Statement for December 31st, 2014, is expected to be presented at the end of April 2015. The preliminary net income in fiscal 2014 was €-361.7m to €-386.7m (2013: €-315.5m). As of December 31st, 2014, Air Berlin PLC’s cash position amounts to €259.2m (financial year 2013: €223.1m).