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.
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Air Berlin to Cut 900 Jobs
Jan. 15, 2013
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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH
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