Austrian Airlines

EANS-Adhoc: Austrian Airlines AG
Global economic crisis brings slump in demand and decline in revenue

@@start.t1@@--------------------------------------------------------------------------------   ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide   distribution. The issuer is solely responsible for the content of this   announcement. --------------------------------------------------------------------------------@@end@@

quaterly report

05.05.2009

Result of the Austrian Airlines Group, Q1 2009

Dr. Andreas  Bierwirth,  member  of  the  Austrian  Executive  Board, said  the following  about  the  first  quarter  of  2009:  "The   world  economic  crisis, recession in Europe and the most serious economic downturn seen in the  post-war period in Austria have all ensured that the start to  the  2009  financial  year has been difficult in the extreme. Meanwhile many countries in Central and Eastern Europe have also  been  affected by the crisis, which has led to  a  temporary  reduction  in  traffic  flows  of crucial importance to us. However, we are anxious to  maintain  the  network by operating smaller aircraft. In the Middle East, meanwhile, growth is  continuing despite  the  crisis.  The  corrections  necessary  in this  region  have  been relatively minor. In the summer months, for instance, we  now  offer  just  one, rather than two, flights a day to Dubai, and we now fly to  Tel  Aviv  using  an A321 instead of a Boeing 767. Should the general downward  trend  continue  over the course of the coming  year,  however,  we  are  prepared.  Further   capacity adjustments  would  be  evaluated  on  a  step-by-step   basis,  and    would    be implemented taking into consideration the transfer flows of  importance  to  the company."

Furthermore Dr. Bierwirth summed up the result for the first  quarter of  2009: "Due to the industry-wide slump in demand, flight revenue fell  by  17%  to  EUR 415.3 million in the first three months of this year.  Our  EBIT  in  the  first quarter stood at EUR -77.0 million, compared to EUR -52.8 million  the  previous year. The reduction in fuel costs was only able to compensate for the  slump   in demand to a partial extent. The result for the quarter  from   January  to  March fell by EUR -27.7 million, to EUR -88.1 million." Dr. Peter Malanik, member of the Austrian Executive Board continued: "In  light of the drastic  nature  of  framework  conditions,  we   introduced  a  range  of measures at the beginning of this year  in   an  effort  to  compensate  for  the expected decline in revenue and counteract the crisis.  We  have  set  ourselves the goal of making total cost savings in the order of EUR 225 million.  We  have already succeeded in implementing numerous packages of measures, beginning   with production cutbacks, through to internal optimization measures as well as Group- wide  measures  impacting  personnel  such  as   short-time  working,    temporary deferments in compensation and suspension  of  pension  fund  contributions.  We have also been involved in negotiations with system partners such  as  Flughafen Wien AG, with whome we agreed on more competitive framework conditions. The  cut in the security charge for transfer passengers at Vienna Airport  also  has  the potential to provide us with cost savings." Dr. Malanik also made following statement on the status  of the  privatisation: "The privatisation is going ahead as planned.  We have  examined  the  takeover offer published by Lufthansa in detail, and are recommending to shareholders  in Austrian Airlines AG that they accept that  offer.  The  Supervisory  Board  has agreed  with   our  recommendation.  The    essential    prerequisite    for    final performance of the contracts is that Lufthansa control over 75%  of   the  shares in Austrian Airlines by the end of the normal acceptance period  of  the  public

@@start.t2@@takeover offer. It is also  necessary  for  us  to  gain  the  approval  of  the European Commission under Competition and State Aid Law.  We  are  confident  of achieving closing by mid-2009."

                         Overview of Financial Result, first Quarter 2009

|Key indicators                              |                |1-3 /2009 |1-3 / 2008|+/- % PY  |
|Revenue                                         |EURm         |438.8        |525.3        |-16.5        |
|EBITDAR1,2                                    |EURm         |-8.2         |26.8         |-              |
|EBITDAR1,2 adjusted3                    |EURm         |-1.5         |34.7         |-              |
|Result from operating activities
|(EBIT)2                                          EURm         |-77.0        |-52.8        |-45.8        |
|Result from operating activities
|(EBIT)2 adjusted3                          EURm         |-70.3        |-44.9        |-56.6        |
|Net result for the period            |EURm         |-88.1        |-60.4        |-45.9        |
|Cash flow from operating
|activities                                      EURm         |-13.8        |43.8         |-              |
|Net gearing                                  |%              |527.3        |135.3        |-              |
|Passengers carried (scheduled &
|charter)                                         passengers|1,942,391 |2,299,382 |-15.5        |
|Passenger load factor (scheduled
|services)                                        %              |67.8         |71.8         |-4.0P        |
|Employees (end of period)            |                |7,681        |7,842        |-2.1         |@@end@@

1 Result from operating activities (EBIT) before associates, before depreciation and rentals 2 The expected income from plan assets was reclassified from personnel expenses to financial expenses. 3 Adjusted by the result from the disposal of assets, other costs of the transfer of aircraft, foreign currency valuations at the reporting date and impairment of the value of aircraft

Please find further information concerning the disclosure according   to  §§  24 and 25 Media Act on www.austrian.com

@@start.t3@@end of announcement                                                 euro adhoc
--------------------------------------------------------------------------------@@end@@

ots Originaltext: Austrian Airlines
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Austrian Airlines AG
Corporate Communications
Patricia Strampfer
+43/5/1766-11231

Austrian Airlines AG
Investor Relations
Thomas Krammer
+43/5/1766-13311

Branche: Air Transport
ISIN:      AT0000620158
WKN:        875224
Index:    WBI, ATX Prime
Börsen:  Wiener Börse AG / official market



Weitere Meldungen: Austrian Airlines

Das könnte Sie auch interessieren: