News Column

Air Berlin to Cut 900 Jobs

Jan. 15, 2013

Shares in Air Berlin rose Tuesday after Germany's second-biggest airline announced plans to slash 900 jobs to cut costs.

The Berlin-based carrier said it aims to save 400 million euros (535 million dollars) in two years.

Markets have been expecting the group to reduce its 9,300 workforce. The airline has not posted an operating profit since 2007.

Air Berlin plans to focus more on core routes in Germany, Austria, and Switzerland as well as popular destinations such as Majorca.

Air Berlin has already announced it would trim its fleet from 158 to 142 aircraft this year.

The European aviation business is struggling to emerge from the economic fallout from the euro debt crisis, which is now in its third year.

Shares in Air Berlin rose about 0.6 per cent to 1.70 euros after the announcement.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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