Austrian Airlines

euro adhoc: Austrian Airlines AG
Quarterly or Semiannual Financial Statements
Repositioning as Eastern Europe Specialist with Pan-European Reach will bring 50% Increase in Passenger Volume from and to Eastern and Central Europe by 2008 (E)

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Results trend and balance sheet for first half-year of 2003

Prompt and comprehensive countermeasures partially offset negative trend

Full year result to break-even at EBIT level or to be slightly positive respectively

With the first half-year of 2003 characterised by negative trends such as war in Iraq, the outbreak of SARS and continuing weakness in the global economy, the Austrian Airlines Group generated Earnings Before Interest and Taxes (EBIT) of EUR -23.3m. Profit before tax (EGT) for the half-year was EUR -28.6m, compared to EUR 4.3m for the comparison period the previous year. Based on the developments in the first half-year, the full year result is forecast to break-even at EBIT level or to be slightly positive respectively. Due to the negative effects outlined above, the passenger volume of the Austrian Airlines Group fell by 5.8 % in the first six months of the year to 3,847,698 million passengers carried.

The half-year result of the Austrian Airlines Group at a glance

                                                                      1-6/2003  1-6/2002  +/- %
Revenue                                              EURm      941.3        1,030.9    -8.7
EBITDAR adjusted1                              EURm        85.1         156.9    -45.8
EBITDAR                                              EURm      183.4         252.4    -27.3
EBIT adjusted2                                  EURm      -52.5            7.0        -
EBIT                                                  EURm      -23.3          29.7        -
Profit before tax adjusted2              EURm      -60.0         -24.2        -
Profit before tax                              EURm      -28.6            4.3        -
Cash flows from operating                 EURm      149.0         305.6    -51.2
Passengers carried                                  3,847,698  4,086,550      -5.8
Passenger load factor                            %        66.0          68.6    -2.6P.
(scheduled services)

1Adjusted for profits from the disposal of assets and for exchange rate valuations at the reporting date. 2Adjusted for profits from the disposal of assets, exchange rate valuations at the reporting date and revaluations of aircraft

end of announcement            euro adhoc 07.08.2003

Further inquiry note: Konzernkommunikation: Johannes Davoras Johann Jurceka Tel.: 051755-1231

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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