Air Berlin (AB) CEO Joachim Hunold announced he is stepping down Sept. 1 as the airline embarks on a steep cost-cutting program that will include cutting 7,500 flights this year. Hunold, who has been with AB since 1991, will remain as non-executive director. AB board member Hartmut Mehdorn was named interim CEO. A source close to AB told ATW that Hunold has been under pressure from shareholders to present better returns and that the airline needed restructuring. "Nevertheless, the ...

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