Air Berlin PLC Dusseldorf / Cologne 29 November 2012 Roadshow Bankhaus Lampe

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1 Air Berlin PLC Dusseldorf / Cologne 29 November 2012 Roadshow Bankhaus Lampe

2 airberlin in a nutshell: Second largest airline in Germany (in terms of fleet size) 35.3 million passengers (2011) 170 destinations in 40 countries (Oct. 2012) employees (2011) 158 aircraft (Sept. 2012); average age 5.2 years 4.23 billion Euro business volume (2011) manifold cooperations with other airlines: strategic partnership with Etihad Airways, oneworld membership, codeshare agreements 2

3 The airberlin story Founded 1978 under US-law from Kim Lundgren (former PanAm Pilot) due to the status of West - Berlin Licensed under German law in 1991 as Air Berlin GmbH & Co. Luftverkehrs KG Phase 1: Charter carrier Phase 2: Mallorca / Euro-Shuttle Phase 3: Scheduled Business Phase 4: International Connectivity Codeshare with Etihad Airways PAX in m per year Codeshare with American Airlines, British Airways, Finnair, S7, Iberia, Royal Jordanian, Bangkok Airways, Pegasus, Hainan Airlines, JAL from 2011 Organic Growth Organic Growth IPO in 2006/ Acquisitions Alliances & Codeshare Air Berlin PLC Roadshow Bankhaus Lampe Nov 12 3

4 Customer Service Etihad Airways and oneworld: airberlin s development towards a full service airline airberlin strategic development transformation process HYBRID CARRIER FULL SERVICE AIRLINE BUSINESS LOW COST LEISURE Stand-alone airline (cooperation with NIKI) 135 destinations (mainly Europe) Global network (from America to Asia) alliance member Global positioned frequent flyer program (topbonus) Full service airline (lounge, priorities, etc.) Timeline 4

5 Two complementary networks now combined Europe covered by AB Russia North America Central America Caribbean DUS BER Northern Africa Middle East AUH India Asia/Pacific Central- & South Africa AB operated EY operated Jointly operated Australia Etihad Airways and airberlin s combined network strategy enables a wider network reach and market growth Source: PaxISplus of airline 5

6 Financial Performance [EUR m] Q & 9M 2012 Revenue EBITDAR EBIT Net result Despite reduction in capacity, increase in revenue is achieved from slightly higher seat load factor and increase in yield +1.4% Revenue growth and cost initiatives help to improve EBITDAR performance despite higher fuel cost of EUR 35 m in Q3 and EUR 99 m in the first 9 months Due to higher leasing cost, EBIT proportionally does not develop in line with EBITDAR Net result more than doubled compared to the previous year quarter and increases by 23.6% for the first 9 months 1, , % % % 66.6 Q3/11 Q3/ % 3, , % % +23.6% 9M/11 9M/

7 Topline development Q & 9M 2012 Revenue 1) per ASK [EUR ct.] Revenue 1) per Guest [EUR] Yield [EUR] +2.7% % % Q3/11 Q3/12 Q3/11 Q3/12 Q3/11 Q3/ % % % M/11 9M/12 9M/11 9M/12 9M/11 9M/12 1) Total revenue 7

8 Operational development Q & 9M 2012 Guests [m] Capacity [m] SLF [%] Q3/ % -5.4% +0.40%p Q3/ M/ % -6.8% +1.39%p 9M/ ) Total revenue 8

9 Development of Expenses [EUR m] Q Personnel expenses Net cost of leases & depreciation [EUR m] Higher than last year driven by FTE increase +6% % % % Q3/11 Q3/ Q3/11 Q3/12 Q3/11 Q3/ % +4.9% +2% % 9M/11 9M/ M/11 9M/12 9M/11 9M/12 Depreciation Leases Cost of a/c ownership 9

10 airberlin fleet as of September 30 th 2011/2012 Fleet development [number of aircraft] Q3/ Q3/ % Q400 A330 family E190 A320 family B737 family 10

11 Balance sheet structure [EUR m] B/S as of Dec 31, 2011 B/S as of Sep 30, ,264 2,385 Fixed assets 66% 11% Equity Fixed assets 57% 8% Equity 89% Debt 92% Debt Other current assets 24% Other current assets 34% Liquid assets 10% Liquid assets 9% Net debt: 813 Net debt:

12 Dollar hedging 2012/13 Dollar hedging profile and FX rate development, 2012/13 vs. 2011/12 Hedging profile [%] FX rate development * [USD/EUR] Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2011/ / / /13 Hedging rate 2012 (as of 09/28/2012) Hedging rate 2011 (as of 09/30/2011) Current Hedge rate Market / Forward rate Hedge rate 2011 * as of 28 Sep 2012 / 30 Sep

13 Fuel hedging 2012/13 Fuel hedging profile and fuel price development, 2012/13 vs. 2011/12 Hedging profile [%] Price 1) development * [USD/t] ,080 1,060 1,040 1,020 1, Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2011/ / / /13 Hedging rate 2012 (as of 09/28/2012) Hedging rate 2011 (as of 09/30/2011) Current Hedge price Market / Forward price Hedge price 2011 * as of 28 Aug 2012 / 30 Sep 2011 // 1) excl. differentials 13

14 EBIT improvement now > EUR 230 m in 2012 with increasing impact in the course of the year [EUR m] Share of Total 30% 26% >60 >230 >50 >70 >50 Q1 Q2 Q3 Q Implementation Realization 14

15 Contribution to full year EBIT improvement of more than EUR 70 m in the third quarter of 2012 [EUR m] Q Shape & Size performance Q3 Q3 > 17.0 > Cost initiatives MRO 4 Q3 6 > 1.6 Process improvement Yield & Rev. mgmt Profitability Improvement EUR 2 Network reduction & productivity Alliances 3 1 Q3 Q3 > 22.2 > 7.9 SHAPE & SIZE profitability improvement in Q3/12 > EUR 70 m 1 Enhanced yield development 2 Codeshare effects from partnership with Etihad Airways and oneworld 3 Aircraft sourcing and improvement of network productivity 4 Reduction of maintenance cost Q3 > Several cost measures EBIT values without effects from cost avoidance 15

16 Present economic challenges and Shape & Size Multiple difficulties affect airberlin s business High oil prices Strong competition (Low-Cost-Carriers) Aviation tax Shape & Size Goal: Operating improvement of 230m in 2012 Cost reduction Increase in revenue and yield Adjusting the network with partners Focus on hubs and profitable routes Emission trading (only European airlines!) High and increasing production costs BER - Airport delay; European debt crisis - weakness in consumer confidence 16

17 Turnaround program Turbine is set to achieve our goal for 2013 to reach a positive net result The efficiency program Shape & Size has accounted to operational improvement with more than EUR 170 m and could offset rising fuel prices Though the constantly worsening economic environment as well as other external factors such as aviation tax, fuel price, BER opening delays and changing consumer behavior, claims for the implementation of turnaround Shape & Size is a continuously moving forward successful efficiency program, but it cannot compensate for all negative influences which the airline will be facing in 2013 Turbine challenges status quo business assumptions and adapt business model to lean and smart principles SHAPE & SIZE Internal continuous improvement; well embedded in the organization 2 TURBINE Structural changes to refocus business and operating model 17

18 airberlin requires structural changes towards a business model with less fragmentation, more efficient operations and a lower cost base Turbine for long-term sustainability TURBINE 2013 Process & levers Structural change to regain competitiveness Challenge status quo business assumptions and adapt business model to lean and smart principles Significantly lift operating performance (RASK / CASK) Develop Master Turnaround Plan by the end of 2012 Building upon airberlin`s core brand attributes (value for money, innovativeness, service with heart) Turbine sharpens our customer offering, especially for high-value customers Implement changes throughout 2013 The program is addressing all elements of the operation, e.g.: Where airberlin flies Number and types of aircraft in the fleet How airberlin routes aircraft and crew around its network Ground processes supporting flights Organizational setup and responsibilities IT and systems supporting the head office Commercial steering model (scheduled / tour operator) Turbine`s major objective is to reduce costs and apply efficient operational principles while maintaining core brand attributes 18

19 topbonus member base topbonus has a growing and attractive member base Number of members (in Mio.) Status levels of members (1) Member base expected to grow to 3.1m members by year end 2012 Differentiation of members in standard, silver, gold and platinum Strong historical growth rates with a CAGR of 14% from 2010 to 2012 Status levels attractive for members Higher revenue generated with premium members airberlin intends to monetize topbonus (1) 2012 data based on extrapolation from figures related to the period between 1 January and 31 August

20 topbonus partner network topbonus has a reputable and significant partner network with more than 120 partners Earn + burn Selected earn partners Air travel Hotels Car rental Finance & insurance Co-branded credit cards (2) (2) oneworld alliance (2) (2) (2) Newspapers Other partners (2) (2) (1) (2) (1) (1) (2) (2) (2) (1) Expected new oneworld alliance members (2) Denotes coalition partner 20

21 Transaction rationale Transaction benefits for airberlin and topbonus Fully consistent with strategy of enhancing attractiveness of topbonus Monetization of topbonus Creating visibility of value contributed by topbonus Strengthening of equity and reduction of financial leverage Ability to participate in future development of topbonus Highly compelling strategic logic evidences by precedent transactions Separation as enabling event for topbonus to develop its full potential 21

22 Back up 22

23 Modifications of airberlin s network, starting 14 Januar 2013 (1) Cancelled Long-Haul connections to North America IATA Code Destination YVR DUS DUS Düsseldorf SFO LAS LAS Las Vegas SFO San Francisco YVR Vancouver 23

24 Modifications of airberlin s network, starting 14 Januar 2013 (2) Cancelled Short-Haul Connections IATA Code Destination BCN Barcelona HAJ TXL BEG Belgrad DUS HAJ Hannover MUC VIE MAD Madrid MUC München SCQ BCN VRN BEG SOF OTP OTP PMI SCQ Bukarest Mallorca Santiago de Compostela MAD PMI SOF VIE Sofia Wien VRN Verona 24

25 Modifications of airberlin s network, starting 14 Januar 2013 (3) Reductions of frequency in Spanish domestic traffic OVD IATA Code AGP Destination Malaga ALC Alicante LIS Lissabon OPO OPO OVD Porto Asturias SVQ Sevilla LIS PMI ALC SVQ AGP 25

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