Airberlin total RASK increased above general market trend
Total revenue per available seat kilometre (RASK) increased above the general market trend by a significant 3.7 percent to 7.31 euro cents (2014: 7.05 euro cents). The average fare per passenger in the reporting year increased by 2.0 percent to €120.31 (2014: €117.90).
Overall, ancillary revenue rose by 4.2 percent to €191 million (2014: €183 million) with passenger spend increasing by 9.2 percent.
The most frequently purchased additional services were seat reservations, followed by additional baggage and onboard sales. airberlin improved average yield significantly, especially due to premium offerings such as the 40 additional XL seats in the economy class, installed in each long-haul aircraft.
The proceeds from ground service – cargo revenue, technical services and wet-lease revenue – plus other services, including ancillary revenues, rose by 6.3 percent in 2015, to 343.9 million euros (2014: 323.5 million euros).
Capacity reduced by 6.8 percent in 2015 due to network optimisation. Available seat kilometres (ASK) dropped by 5.4 percent to 56 billion (2014: 59 billion). Revenue passenger kilometres (RPK) decreased by 4.6 percent to 47.0 billion (2014: 49.3 billion)
As a result load factor increased (RPK/ASK) by 0.7 percentage points to 84.2 percent (2014: 83.5 percent).
Together, these operational improvements meant that despite the airline’s planned capacity reduction of 6.8 percent and the unstable situation in the global travel market – especially in the fourth quarter – total sales declined by just 2 percent to 4,081.8 million euros (2014: 4,160.2 million euros).
Passenger revenue decreased by 2.7 percent to 3,639.3 million euros (2014: 3,739.2 million euros).
Total costs decreased by 1.5 percent to 4,388.7 million euros (2014: 4,453.9 million euros) leading to an operating result (EBIT) for the 2015 financial year of -307.0 million euros (2014: -293.8 million euros).
Adjusted for the one-off effects of restructuring provisions, cost related to the introduction of a single narrow body fleet and non-recurring other operating costs amounting to 92 million euros, EBIT was -215.4 million euros.
The operating cash flow improved to -151.1 million euros from -263.4 million euros in 2014 due to non-charges contained in the operating results, as well as improved working capital.
Adjusted for one-off effects, unit costs rose by 1.9 percent as semi-fixed costs such as cost of aircraft ownership, crew and overheads could not be reduced at the same rate as capacity.
The net result decreased to -446.6 million euros (2014: -376.7 million euros), a figure that was negatively influenced by non-cash charges for deferred tax assets and the valuation of long term liabilities and derivatives.
Volume-adjusted fuel expenses in 2015 were 4.5 percent (43 million euros) lower than in the previous year.
Due to fuel hedging transactions dating from 2014, and the sharp rise in the US dollar, airberlin benefitted only to a limited extend from the more favourable kerosene price movements during the reporting year, but the airline will take advantage in 2016 from the low cost of fuel. ■