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FINANCIAL NEWS
Etihad-backed Air Berlin posts USD178.6m losses in Q1
12 May 2015
(MENAFN) The Etihad-backed Air Berlin posted losses before interest and tax (EBIT) of USD178.6 million in the first quarter of the year, down from USD182.8m year-on-year, Arabian Business reported.
Presently, the airline is determined on continuing its restructuring plans in hopes of coping with its competitive counterparts and to comeback to profits amidst weaker business.
“Because of increased market pressures and special expenditures, current foreseeable business development in the second quarter has so far not fulfilled expectations,” the airline said.
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