Austrian Airlines

euro adhoc: Austrian Airlines AG
Strong Finish in 2003 exceeds good Annual Result in 2002 (E)

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Forecast Annual Result of the Austrian Airlines Group for 2003 EBIT: EUR + 63.4 m (+53.5 % on previous year)

The Chief Executive Officer of the Austrian Airlines Group, Vagn Soerensen, has made the following statement on the forecast results: "The year 2003 was an extremely hard one for the aviation industry, especially the first six months of the year. However, due to our innovations and marketing offensives, efficient cost management and readiness to change structures that have been in place for many years in an effort to design a more powerful production base, we have been successfully turned around the negative trend. The momentum of the market recovery, which really began to gather pace in the final third of the year, and the more favourable euro/dollar exchange rate enabled us to even exceed the overall result for 2002. We have now achieved another part of the turnaround of our group. From now on, we will strive to make permanent improvements and considerably strengthen our customer orientation."

Austrian Airlines would like to announce the following preliminary annual result for the group:

~
EURm                                  2003        2002        +/- abs.    +/-  %
Revenue                            2,040.1  2,204.4    -164.3        -7.5
Operating revenue            2,242.7  2,398.0    -155.3        -6.5
EBITDAR                                420.8      463.2      -42.4        -9.1
EBIT                                      63.4        41.4      +22.0      +53.5
EBIT before exceptionals        4.2        43.0      -38.8            -
Profit before tax                 25.7         4.2      +21.5            -
~


end of announcement            euro adhoc 20.02.2004
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Further inquiry note: Konzernkommunikation: Johannes Davoras Johann Jurceka Tel.: 051766-1231

Investor Relations Karl Knezourek Tel.: 051766 - 3328

Branche: Air Transport
ISIN:      AT0000620158
WKN:        062015
Index:    ATX, ATX Prime, WBI
Börsen:  Wiener Börse AG / official dealing



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