EANS-News: airberlin increases third quarter profit

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Company Information/Financial Results Q3 2012

Subtitle: • airberlin shows improved operating result of more than
EUR 100 million; net income more than doubles • Higher revenue,
increased capacity utilization, improved yield and successful
partnerships • External cost increases partially offset by
efficiency-improvement program • Etihad Airways relationship
contributes approximately EUR 50 million revenues in the year to date
and significant cost savings; airlines continue to investigate new
opportunities • Turbine 2013: Strategic reorientation and
concentration on core competence necessary for sustainably improving
income in the coming year

Berlin (euro adhoc) - airberlin, Germany's second-largest airline
company, significantly improved its net income for the traditionally
strong third quarter, in comparison with the previous year. At the
same time, it was able to offset strongly increasing external cost
through the successful efficiency-improvement program "Shape & Size",
which will lead to an improvement of EUR 230 million in operations
this year.

On the occasion of the presentation of the quarterly report,
airberlin's Chief Executive Officer, Hartmut Mehdorn, said: "We have
improved our result. We were able to increase revenue, improve
capacity utilization and yield, and we were able to reduce cost
significantly. The journey is not complete, however we are on the
right track. Our target to return to profitability in the coming year
remains unchanged."

In the third quarter, airberlin was able to increase its net income
to EUR 66.6 million (2011: EUR 30.2 million), an increase of more
than 120 percent over the corresponding quarter of the previous year.
The operating result improved by 4.5 percent to EUR 101.2 million
(EUR 96.8 million). Revenue increased by 1.4 percent over the
previous year, to EUR 1,395.1 million (EUR 1,375.5 million), despite
a targeted capacity reduction of 5.4 percent. Capacity utilization
increased slightly by 0.4 percentage points to 84.54 percent (84.14
percent). Yield (revenue per passenger) improved by 3.1 percent to
EUR 115.84 (EUR 112.39). EBITDAR (Earnings before interest, taxes,
depreciation, amortization and leasing expenses) increased by 3.8
percent to EUR 279.5 million (EUR 269.3 million). Total equity at the
end of the quarter amounted to EUR 186.3 million, which corresponds
to an equity ratio of eight percent.

airberlin recorded a continuing reduction of direct operating costs -
excluding fuel costs - as a result of the "Shape & Size" program,
which yielded a contribution of EUR 70 million in the third quarter.
Over this period, fuel costs increased by EUR 35 million.

Further strategic development of the frequent-flyer program Mehdorn
said airberlin was looking at further strategic development of its
frequent-flyer program: "We have taken the decision to explore ways
of developing our frequent-flyer program topbonus. We have decided to
migrate topbonus into a new entity and sell the majority of it. This
migration will further enhance the attractiveness for the program and
its more than three million members and more than 120 partners."

Hartmut Mehdorn commented on the strategic logic as follows: "As an
independent company focusing on this line of business, and having a
clear expansion goal, topbonus will be able to reach its full
potential."

airberlin's Chief Financial Officer, Ulf Hüttmeyer, commented on the
financial aspects of the planned frequent-flyer joint venture,
saying: "The transaction will be concluded in the fourth quarter and
will contribute to a significant improvement of the earnings and
balance sheet ratios for the year 2012."

Strategic partnership with Etihad Airways Mehdorn also made reference
to the strategic partnership with Etihad Airways entered into just a
year ago. "Our relationship with Etihad Airways has brought strong
benefits. So far in 2012, it has delivered approximately EUR 50
million in revenues, ahead of our initial estimates, and it is
offering a wide range of cost-saving opportunities.

"We are working together on joint fleet programmes, bringing in more
efficient aircraft, as well as on combined pilot and staff training,"
he said. "These benefits will just grow and grow as our partnership
deepens."

Furthermore, the CEO is confirmed that airberlin's membership in the
airline alliance oneworld® brought considered benefits. The expansion
of existing codeshare agreements, in combination with the addition of
new codeshare agreements, such as for example those with Air France
and KLM, will allow airberlin to continuously gain new guests all
over the world.

Turbine 2013 necessary for sustainably improving income Moreover,
Mehdorn stated that the general environment continues to be saddled
with high fuel cost, the aviation tax, the burden of the postponement
of the opening of the new Berlin airport (BER), a weakening euro, and
dim economic prospects: "We have come to the conclusion that we need
to implement an additional turn-around program, Turbine 2013. With
Turbine 2013 we concentrate fully on our core competences. Only in
this manner, will we be able to further improve our operating
performance in this negative environment and to sustainably be in the
black from next year onwards," stated Hartmut Mehdorn.

Q3 Results:

Q3 2012 Q3 2011 Variance
Revenue EUR1,395.1m EUR1,375.5m +1.4%
EBITDAR EUR279.5m EUR269.3m +3.8%
Operating profit EUR101.2m EUR96.8m +4.5%
Net profit EUR66.6m EUR30.2m +120.5%
Capacity utilization 84.54% 84.14% +0.4 Percentagepoints
Yield EUR115.84 EUR112.39 +3.1%
Passengers carried 10,693,441 11,252,325 -5.0%
Aircraft 158 170 -7,1%
Destinations 170 171 -1

Further inquiry note:
Uwe Berlinghoff
Senior Vice President Communications
Tel.: +49 (0)30/3434-1500
E-Mail: abpresse@airberlin.com

end of announcement euro adhoc
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company: Air Berlin PLC
The Hour House, High Street 32
UK-WD3 1ER Rickmansworth, Herts
phone: +49 (0)30 3434 1500
FAX: +49 (0)30/3434-1509
mail: abpresse@airberlin.com
WWW: http://www.airberlin.com
sector: Air Transport
ISIN: GB00B128C026
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, free trade/Bondm:
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English