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Air Berlin falls further into debt despite revenue increase

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Air Berlin falls further into debt despite revenue increase
Photo: DPA
08:41 CEST+02:00
Germany's second largest airline Air Berlin fell deeper into debt in 2008, the company announced on Monday.

The company posted a loss of €75 million – up significantly from last year's €39.9 million in losses, a statement said.

The airline did manage to draw a total revenue to €3.4 billion, a 6.7 percent increase.

“On the one hand the performance enhancement programme implemented in summer 2008 led to a significant earnings improvement on the operating level,” the statement said. “On the other hand, the financial result worsened significantly.”

The company said losses were due to higher taxes and “extreme volatilities cause by the world financial markets crisis.”

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