Airberlin achieved a positive operating result (EBIT) based on revenues of €1,311.9 million in the third quarter of the year – a 2.6% decline. EBIT (earnings before interest and taxes) decreased to €74.9 million in comparison to the previous quarter. Taking into account existing restructuring costs of €15 million, the adjusted EBIT amounts to €90 million. Last year airberlin reported €115.6 million. The net profit for the third quarter of 2014 amounted to €49.9 million. At the end of the quarter airberlin had around €800 million of liquidity resources.
In line with the general market environment, airberlin's yield decreased 4.4% to €119.42 (previous year: €124.93). The flights offered increased by 0.9% and the available seat kilometres (ASK) increased by 0.9%. Capacity utilisation of 87.2% remained nearly unchanged from the corresponding quarter in the previous year with 87.3%. Due to the fall in yield, the revenue per available seat kilometre (RASK) of 7.40 cents was 3.4% lower than the corresponding quarter in the previous year of 2013 with 7.66 cents.
The airline commented that its cost reduction initiatives have shown positive effects in the third quarter. In an annual comparison, airberlin said it had succeeded in reducing the cost per available seat kilometre (CASK) by 0.9% to 5.22 cents (previous year: 5.27 cents), excluding fuel. Including fuel CASK decreased by 1.4% to 6.99 cents (previous year: 7.09 cents). Cost reductions were achieved notwithstanding a significant increase in expenditures of 5.8% as a result of airport charges, air navigation charges and the air transport tax. Personnel costs increased by 6.4% due to wage increases and one-time effects, such as the closure of crew bases.
The number of passengers on codeshare routes with oneworld partners went up by around five percent to 488,000. The partnership with Etihad Airways continued to enjoy positive development in the third quarter. The number of passengers on codeshare routes increased to a total of 413,000 – a plus of four percent over the first nine months of the year. Additional routes from Berlin, Stuttgart and Vienna will contribute to further growth in the future.