Airberlin—which reported a 2013 net loss of €315.5 million ($437 million)—is planning a “substantial” recapitalization program to return to profitability. The carrier’s 2013 net loss was reversed from a €6.8 million profit a year ago when it posted the first profit in five years by selling a majority stake in its frequent flyer program to Etihad Airways. CEO Wolfgang Prock-Schauer called 2013 a “very challenging and very disappointing year. The ...

Subscribe to Access this Entire Article

"Airberlin plans recapitalization program after posting losses in 2013" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.