30/07/10, 05:39:42 EDT

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Budget airline Air Berlin says it swung to a profit in 2006

iht.com

Budget air carrier Air Berlin PLC on Monday said it posted a profit in 2006 compared with a loss a year earlier as more passengers took advantage of its inexpensive flights across Europe.

The Berlin-based airline earned €50.1 million (US$65.8 million) in 2006 compared with a €115.9 million loss the year before, the company said in a statement. Sales rose more than 28 percent to €1.57 billion (US$2.06 billion) compared with €1.22 billion in 2005 as the airline added more flights to destinations in southern Europe, including Greece, Spain, Turkey and the Canary Islands. The company, Germany's No. 2 airline behind Lufthansa AG, did not disclose its fourth-quarter results. The airline maintains an extensive domestic network, with flights to and from several German cities along with destinations in Britain, France, Italy, Hungary, Austria and Russia. "Despite the costs of going public and the integration of dba, which Air Berlin acquired in August 2006, our net profit even exceeded the expectations of most analysts," said Chief Executive Joachim Hunold.

 Printable Version  | published Feb 26, 2007