Air Berlin to restructure after disappointing result; CEO resigns

Air Berlin, Germany’s second-largest airline group and oneworld member elect, announced it would cut capacity and fleet as part of a restructure following a widening in operating losses in the second quarter amid a sharp rise in fuel costs, the impact of Germany’s new travel tax and disruptions in key North African markets. Long-time CEO Joachim Hunold will resign. The company faces a gloomy outlook for the second half, warning it may fail to finish the year with a profit at the operating level.

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