September 29, 2014

airberlin cancels order for 33 Boeing aircraft

airberlin has reached an agreement with Boeing that orders for 18 Boeing 737 and 15 Boeing 787 aircraft at a price of currently some $5bn be rescinded. The termination agreement for these 33 aircraft does not include any compensation to Boeing from airberlin group, and represents a further important step in the gradual harmonisation of the airline’s narrow-body fleet. Ulf Hüttmeyer, Chief Financial Officer at airberlin, said: “Not taking on the 33 aircraft ordered will significantly reduce future capital expenditure for airberlin and improve our balance sheet”. “Our collaboration with Boeing has always been excellent, and this will remain so. 45 Boeing 737 NG aircraft will remain in service on European short and medium-haul routes. In order to operate more flexibly in the future and further reduce costs, standardisation of our fleet is a key element of our restructuring”, Ulf Hüttmeyer continues. The transition to a uniform narrow-body fleet should be completed by the end of 2016. airberlin group will continue to dynamically adapt the existing fleet to its needs by purchasing or leasing suitable aircraft, although this will be on a smaller scale than originally planned.



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