The board of executive directors and top managers of Air Berlin, the second largest German airline, will forgo 50 per cent of their bonus entitlements for the financial year 2008.
Berlin – In doing so, they are making a total contribution of 2 million euros to the „Jump“ package of measures initiated in spring 2008. This means that the company’s senior management will be accepting a reduction of up to 10 per cent on their annual income, while the board of executive directors will be giving up 25 per cent.
The board of executive directors is confirming its forecast of a positive operating result for the financial year 2008 that has just ended. This will be achieved despite a major increase in fuel costs last year and the rather gloomy economic situation.
The airline’s „Jump“ measures already started to bear fruit at the end of November, when the operating profit showed a 57 per cent increase on the same period of the previous year. At the time Joachim Hunold, the airline’s CEO, highlighted the fact that the result for the third quarter had been „the best quarterly result in the history of our company“.
Air Berlin will report on the 2008 year-end results on 30th March in Berlin.