FRANKFURT (Thomson Financial) – Air Berlin Plc will announce at the end of this month it is cutting its full-year 2008 guidance due to the recent surge in fuel prices, Financial Times Deutschland reported, citing a spokesman.

Kerosene prices have risen almost 13% since the end of November, FT Deutschland said.

Air Berlin last said it expects to reach earnings before interest and tax of €140-160 mln for 2008. According to the interim figures, Air Berlin PLC generated an EBIT of €21.5 million in 2007 (2006: EUR 64.2 million) and earnings after taxes of €11 million (2006: €50.1 million). EBITDAR increased by 48 percent from €256.5 to €379 million. Sales volume amounted to €2.54 billion (2006: €1.58 billion). A detailed statement will be issued by the company at the Press Conference on the Annual Financial Accounts on 31 March 2008.

Deutsche Lufthansa AG yesterday said fuel price hedging and the weak US dollar against the euro almost fully offset rising prices last year.

But peer British Airways Plc last week slashed its 2008/09 operating margin guidance by 3 pct points to 7 pct because of higher oil prices and global economic weakness.

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