BERLIN: Air Berlin said it expected profit to improve significantly in 2015 thanks to turnaround measures being put in place by its new chief executive.
The carrier, Germany's second-largest airline, made the prediction as it released preliminary figures for 2014 showing a net loss of between 362 million and 387 million euros ($393 to $420 million).
Air Berlin had previously forecast a net loss for 2014 of about 350 million euros and said on Thursday it could not yet determine the exact size of restructuring charges for 2014, which would be in a range of 85 to 110 million euros.
It said 2015 should lay the foundations for a planned return to profitability in 2016, and that the first quarter's adjusted operating profit should be about 25 million euros better than the loss of 183 million euros it made a year earlier.
"We will break out of the negative performance spiral of the past years in 2015 with a reorientation of our business model," new Chief Executive Stefan Pichler said in a statement.
Air Berlin ran into trouble after a spate of acquisitions left it piled with debt and a mix of routes serving sun-seeking German tourists, business travellers, and point to point.
Pichler has said the airline will now set its managers measurable targets, divest non-core businesses and seek to win market share in its most important markets.
Air Berlin said it would report final 2014 results at the end of April.
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