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Air Berlin Announces Exchange Offer for 2019 Convertible Bond
​Air Berlin Finance B.V, the subsidiary of Germany’s second largest airline, announced today an exchange offer for its €140m 6.00% convertible bond due 6 March 2019, but with a holder put option at the principal amount on 6 March 2017. The exchange offer consists of a one for one exchange of the existing convertible bond for a new convertible bond. The new convertible bond will have the same maturity date (6 March 2019), higher coupon of 8.50% (vs. 6.00%), lower conversion price of €1.15...
Air Berlin - 3Q16 Results
After cuts in its network in 1H16, Air Berlin had in 3Q16 broadly stable available seat kilometres (ASK) and revenue passenger kilometres (RPK) up yoy by 0.1% and 0.5% respectively. However revenue per ASK decreased by 5.5% impacted by competitor’s shift of capacity to traditionally strong seasonal touristic markets such as Palma de Mallorca and the Canary Islands. As a result, revenue declined by 5.4% to €1,230m. Lower fuel price benefited c. €80m, however that was partially offset...​
AIR BERLIN - 1Q16 RESULTS
​In contrast of the growing European market recording yoy +5.4% in revenue passenger kilometres (RPK) and +4.5% in available seat kilometres (ASK), Air Berlin continued its network rationalization with a yoy decrease of -7.0% in RPK and - 7.2% in ASK. It contributed with the dispute about the approbation of codeshare and lower tourism traffic to a revenue decline of -7.1% yoy at €737m. Adjusted EBITDAR improved slightly to €5m compared to the -€27m last year due to a 4.2% yoy decrease in...
AIR BERLIN 1Q16 RESULTS
​In contrast of the growing European market recording yoy +5.4% in revenue passenger kilometres (RPK) and +4.5% in available seat kilometres (ASK), Air Berlin continued its network rationalization with a yoy decrease of -7.0% in RPK and - 7.2% in ASK. It contributed with the dispute about the approbation of codeshare and lower tourism traffic to a revenue decline of -7.1% yoy at €737m. Adjusted EBITDAR improved slightly to €5m compared to the -€27m last year due to a 4.2% yoy decrease in...
AIR BERLIN 1Q16
​In contrast of the growing European market recording yoy +5.4% in revenue passenger kilometres (RPK) and +4.5% in available seat kilometres (ASK), Air Berlin continued its network rationalization with a yoy decrease of -7.0% in RPK and - 7.2% in ASK. It contributed with the dispute about the approbation of codeshare and lower tourism traffic to a revenue decline of -7.1% yoy at €737m.
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