Austrian Airlines

euro adhoc: Austrian Airlines AG
Strategic management decisions
Supervisory Board approves acceleration of long-haul restructuring and fleet harmonisation

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 01.11.2006 Resolution passed to cut four Airbus A330 aircraft to achieve fundamental consolidation of Austrian long-haul programme In an Extraordinary Meeting held on 1 November 2006, the Supervisory Board of Austrian Airlines AG has approved the proposal of the Board of Management to cut the Airbus A330 fleet, which consists of four long-haul aircraft, starting in 2007, in addition to disposing of both Airbus A340-300 aircraft in 2007. This move will introduce a fundamental repositioning of the Austrian long-haul programme and represents a decisive step in the process of fleet harmonisation. The reduction of the long-haul fleet will streamline the Austrian long-range route network. In concrete terms, scheduled services to Shanghai will be terminated from 7 January 2007, flights to Phuket, Mauritius and Colombo/Male from the end of April, and those to Kathmandu in May 2007. Lauda Air will withdraw from the long-haul charter segment in 2007. The routes to the cities of Karachi in Pakistan and Chennai (Madras) in India that have been under evaluation will not be opened up. The new US destination Chicago will be incorporated into the network from 29 May 2007. The adjustment of routes that generate losses due to insufficient direct traffic share is a precondition for profitable growth in the future. As a consequence of these restructuring measures the Group expects -based on the losses accumulated in the current year on the respective routes - a positive contribution up to EUR 40m per year, which will - according to the Management Board assumption - reach its full-year effect as of 2009, after cutback of costs related to these measures. Disclaimer: This adhoc-release constitutes neither an offer to sell nor a solicitation to buy any securities. A public offer of shares by Austrian Airlines Österreichische Luftverkehrs-Aktiengesellschaft has not yet taken place. Any securities orders received prior to the commencement of the offer period will be rejected. If a public offer is made in Austria, a prospectus will be published in accordance with the Austrian Capital Market Act. This adhoc-release is not being issued in the United States of America (USA) and must not be distributed to "U.S. persons" (as defined in Regulation S of the U.S. Securities Act of 1933, as amended) or publications with a general circulation in the USA. This adhoc-release does not constitute an offer or invitation to purchase any securities in the USA. The securities of Austrian Airlines Österreichische Luftverkehrs-Aktiengesellschaft have not been registered under the Securities Act and may not be offered, sold or delivered within the USA or to U.S. persons absent from registration under or an applicable exemption from the registration requirements of the United States securities laws. end of announcement euro adhoc 01.11.2006 20:01:54 -------------------------------------------------------------------------------- ots Originaltext: Austrian Airlines AG Im Internet recherchierbar: http://www.presseportal.ch Further inquiry note: Konzernkommunikation: Johannes Davoras Johann Jurceka Tel.: 051766-1231 Investor Relations Dr. Prisca Havranek-Kosicek Tel.: 051766 - 3700 Branche: Air Transport ISIN: AT0000620158 WKN: 875224 Index: WBI, ATX Prime, ATX Börsen: Wiener Börse AG / official dealing

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