Business: Good week - Bad week

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AIR BERLIN The German carrier expects to rack up a full-year operating profit after cutting first-half losses nearly a fifth to just under €54 million ($80 million) on revenue up 5.5% to €1.53 billion. Cost cutting will see the carrier reduce its fleet by 10% and suspend several routes. "Despite all the challenges stemming from the weakening global economy and the explosive development of kerosene prices, we remain optimistic," says chief executive Joachim Hunold.

 

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AER LINGUS No luck of the Irish here, with high fuel prices and the difficult operating environment driving a €22.3 million ($32.8 million) first-half operating loss. Chief executive Dermot Mannion says a second-half break-even is the best that can be hoped and adds: "It is now clear that we will require further fundamental changes in our operating cost base in order to minimise losses in 2009 and to help ensure the long-term viability of the business."

 

Source: Flight International