airberlin reschedules Airbus and Boeing deliveries

airberlin has reached agreement with both Airbus and Boeing with regard to rescheduling of the deliveries of the aircraft it has on order with each of the manufacturers.

The agreements stipulate that deliveries of new aircraft originally scheduled for 2012 and 2013 will be partly postponed until 2015 and 2016, to adapt airberlin’s capacity growth to its ‘Shape & Size’ earnings-improvement programme. The agreements relate to Boeing 737 family and Airbus A320 family aircraft.

For 2012 and 2013, 31 aircraft will be delivered to airberlin, whereas the delivery of 19 aircraft will be postponed. Through this restructuring, airberlin’s debt load is eased, in particular for the years 2012 to 2014, and the delivery of new aircraft is also secured until 2016.

Ulf Hüttmeyer, airberlin’s CFO, commented, "The agreements for 2012 and 2013, including the postponement of 11 aircraft of the Airbus A320 family and 8 of the Boeing 737 family, illustrate our co-operation with Airbus and Boeing, which is based on mutual trust. The agreements are also an important step for airberlin towards the optimisation of our fleet requirements in light of the current market conditions. At the same time, our investment requirements, based on current average list prices, will be reduced in particular by $508 million in 2012 and by $1,128.4 million in 2013. Moreover, the agreements with respect to the future fleet support the ‘Shape & Size’ programme due to a more efficient fleet structure as well as improved fleet productivity, in line with the optimised capacity growth."

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