euro adhoc: Air Berlin PLC
Strategic management decisions
Air Berlin creates
new engineering company
Decisive step to increase cost savings and competitiveness
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Spin-offs/Air Berlin engineering company
09.08.2007
The tariff agreement with ver.di trade unions has cleared the way: 600 people who have been working for LTU in Düsseldorf and Munich and for Air Berlin in Düsseldorf will now be working for "Air Berlin Luftfahrttechnik Düsseldorf GmbH", under the umbrella of "Air Berlin Technik Ltd." (London). They will shortly be joined by the 130 employees from dba-Technik in Munich. "Air Berlin Technik Berlin GmbH" will also be part of the group, which will then have 1,100 employees.
The plan is that this new, independent technical division will not only be servicing the Air Berlin fleet, consisting of 130 aircraft, but will also be developing further third-party business. Air Berlin is hoping that by merging these technical operations it will achieve better utilisation of the facilities at the individual sites and a reduction in technical costs. The intention is also to separate these activities from seasonal flight operations.
By setting up an independent Air Berlin engineering section, the company is not only creating additional potential growth for third-party business with airlines outside the group, but also securing a proportion of the synergies amounting to between 70 and 100 million euros per annum, which is expected from the acquisition of LTU. This is a decisive step to increase cost savings and competitiveness.
Air Berlin PLC The Hour House 32 High Street Rickmansworth WD3 1ER Hertfordshire UK WKN AB1000 (Ordinary Shares) Listed on Frankfurt Stock Exchange (Official Market, Prime Standard) WKN AONQ9H (Convertible Bonds) Listed on the Euro MTF market of the Luxembourg Stock Exchange
end of announcement euro adhoc 09.08.2007 07:25:45
Further inquiry note:
Ingolf Hegner
Head of Investor Relations
+49 (0)30 3434 1532
ihegner@airberlin.com
Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: Classic All Share, Prime All Share, SDAX
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade