Air Berlin Surges as Carrier Delays Results, Citing Looming DealRichard Weiss
Air Berlin Plc, the German airline part-owned by Persian Gulf carrier Etihad Airways PJSC, rose almost 15 percent at the close in Frankfurt after postponing an earnings release pending a possible transaction.
Air Berlin, which was due to post full-year figures and hold its annual press conference tomorrow, is “in advanced discussions on options, which, if implemented, would have a substantial effect on the company,” it said in a statement.
Shares of the Berlin-based carrier ended the day up the most since May 14 last year, surging 30 cents to close at 14.75 euros for a market value of 274.5 million euros ($382 million).
Chief Financial Officer Ulf Huettmeyer said Nov. 14 that Air Berlin was seeking to realize a one-time gain of more than 50 million euros, which would be needed for the carrier to meet its profit forecast for 2013, lowered that same day.
Air Berlin, which competes with Deutsche Lufthansa AG and discount carriers EasyJet Plc and Ryanair Holdings Plc in the European short-haul market, as well as operating long-distance leisure flights, said it will now post results March 27.