Air Berlin CEO says savings programme starting to bear fruit
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Continental Europe,
Air Berlin
(XFN-ASIA) Air Berlin plc chief executive Joachim Hunold said the airline's savings programme is starting to bear fruit and indicated there could be further price increases, according to an interview in Welt am Sonntag.
He said as a result of the savings programme, bookings, capacity and passenger yield are now better compared to last year. He did not provide details. He said management has identified potential savings of eur150 million over a 12-month period and 35 million of this amount can be realised this year. He added, "But it could also become more than this (EUR35 million )."
He left open the possibility of further increases in ticket prices, saying the company has to observe first how bookings develops and how far the market will absorb the recent price increases. He said if oil prices do not decline, the state must start considering the possibility of subsidising airlines.
Date posted: 04-Aug-08
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Air Berlin CEO says savings programme starting to bear fruit 
