An agreement has been reached between Air Berlin, Germanys second largest airline, and Boeing regarding Air Berlins orders for 18 Boeing 737 and 15 Boeing 787 aircraft at a price of currently some 5 billion USD, which will be rescinded. The termination agreement for these 33 aircraft does not include any compensation to Boeing from Air Berlin group, and represents a further important step in the gradual harmonisation of the airlines narrow-body fleet.

Not taking on the 33 aircraft ordered will significantly reduce future capital expenditure for airberlin and improve our balance sheet, says Ulf Hüttmeyer, Chief Financial Officer, Air Berlin.

Our collaboration with Boeing has always been excellent, and this will remain so. 45 Boeing 737 NG aircraft will remain in service on European short and medium-haul routes. In order to operate more flexibly in the future and further reduce costs, standardisation of our fleet is a key element of our restructuring, Ulf Hüttmeyer continues.

The transition to a uniform narrow-body fleet should be completed by the end of 2016.

Air Berlin group will continue to adapt the existing fleet to its needs by purchasing or leasing suitable aircraft, although this will be on a smaller scale than originally planned.

SOURCE airberlin group