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Germany's Air Berlin widens loss in 2011

Germany's Air Berlin widens loss in 2011

Germany's second-biggest airline, Air Berlin PLC, says losses swelled last year on a combination of factors including sagging demand for travel to north Africa and high fuel prices.
A new German aviation tax and severe winter weather also hit business, the company said Friday as it reported a loss a loss of (EURO)271.8 million ($355 million) for 2011, compared with (EURO)97.2 million the previous year. However, revenue increased 13.7 percent to (EURO)4.23 billion.
Air Berlin last year embarked on a drive to cut back its fleet and chop some routes.
In December, it announced a deal for Abu Dhabi-based Etihad Airways to take a stake of nearly 30 percent. It plans to join the oneworld alliance later this month.
Air Berlin says it is "looking at the future more positively after a poor 2011."


Updated : 2021-10-20 01:45 GMT+08:00