Aviation tax puts a burden on Air Berlin PLC´s earnings
airberlin’s CEO Hartmut Mehdorn pleaded again for the abolition of the aviation tax. At the presentation of the figures for the third quarter of 2011 on Thursday, Mehdorn stated: “Due to the tough competition, it is impossible to pass on the tax to the customers. The aviation tax is damaging the low-margin airline industry in Germany.” Furthermore, the aviation tax, which was announced as a precursor of the emissions trading scheme, renders all efforts geared towards sustainability absurd, since the tax does not take CO2 emissions into account, emphasized Mehdorn. The evaluation of the aviation tax, which the authorities have scheduled for next year, should urgently be brought forward. In addition to the aviation tax, high oil prices as well as strikes and announced strikes by the air traffic controllers prevented airberlin from achieving a better result for the third quarter – despite improved capacity utilization and increased revenue per passenger.
Ulf Hüttmeyer, airberlin’s CFO, emphasized that the efficiency improvement program, “Shape & Size“, which airberlin implemented in the summer and comprises more than 30 working groups, is well on its way towards sustainably positioning the company in a profitable manner for the future. As Hüttmeyer stated: “According to the present status, I am of the opinion that the program will already accomplish savings amounting to approximately EUR 200 million in the coming year.”
Source: airberlin
|