Germany's Air Berlin to shed 75 aircraft, 1,200 jobs

Markets Associated Press

Struggling German airline Air Berlin says it plans to cut its fleet nearly in half and eliminate some 1,200 jobs as part of a restructuring to develop a leaner structure and focus on its most profitable routes.

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The airline said Wednesday that it would reduce its fleet of 144 planes by 75 as it concentrates on flights originating from Berlin and Duesseldorf. It plans to spin off 35 of the aircraft into a separate unit "with the goal to pursue strategic options."

Another 40 planes will be leased to Germany's largest airline, Lufthansa.

In a separate statement, Lufthansa said it planned to add 35 of those planes to its own low-cost carrier, Eurowings, and five to subsidiary Austrian Airlines.

Lufthansa says the 6-year lease will start in March 2017.