Austrian Airlines

euro adhoc: Austrian Airlines AG
Overcapacity in market leads to reduction in load factor in fourth quarter - negative effect on result from operating activities increased by high fuel costs Forecast EBIT for 2004 (EUR 50 million) to be maintained on

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Targeted production cutbacks of 3 % of flights planned for next three months to be used to adjust network to overcapacity in Europe Fuel surcharges for flights increased as of 29 November

Corporate performance in the fourth quarter is of decisive importance, particularly for the achievement of the forecast result for 2004. Due to factors which have become increasingly apparent in the course of the latest business period, the Austrian Airlines Group has been forced to adjust its forecast 2004 annual result from operating activities. Although the Group will still hold to its original target EBIT of EUR 50 million on an unadjusted basis, it will now be necessary to correct the adjusted EBIT to EUR 10 million.

end of announcement                                euro adhoc 22.11.2004 07:31:16
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Further inquiry note: Corporate and Market Communications: Johannes Davoras Johann Jurceka Tel.: 051766-1231

Investor Relations Dr. Prisca Havranek-Kosicek Tel.: 051766 - 3642

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



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