Air Berlin Second Quarter Losses Widen

Air Berlin reported a bigger second quarter loss of EUR€89.1 million as revenue fell on reduced capacity and pressure on ticket prices.

The EUR€89.1 million loss was down from the EUR€37.5 million loss in the same period last year.

Revenue for the quarter was EUR€970.6 million, down from last year's EUR€1.07 billion.

Load factor fell 0.4 percentage points to 81.6 percent.

“Demand, especially on flights to holiday destinations, suffered from terrorist attacks in Europe and had a major and negative impact on Air Berlin’s financial performance,” chief executive Stefan Pichler said in a statement.

“The airline was hit particularly hard by the volatile political situation in traditional holiday destinations of Turkey, Greece and North Africa.”