Austrian Airlines

euro adhoc: Austrian Airlines AG
Annual Reports
Strong Improvement in Operating Performance and Result Situation despite Extraordinary Effects

@@start.t1@@--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc. The issuer is responsible   for the content of this announcement. --------------------------------------------------------------------------------@@end@@

annual report


Financial result of Austrian Airlines Group for business year 2006

Offering an overview of the Austrian Airline Group's annual results, which were released today, Chief Executive Officer Alfred  Ötsch said:  "In  the business year 2006, the Austrian  Airlines  Group has  introduced  crucial restructuring steps and started out on an important  new  course.  We  have significantly improved  our operating  performance  and  result.  The  key factors in this have been the  increase  in  our  flight  revenue  and  the significantly stronger growth in our yields compared to unit costs. On  the other hand, extraordinary  effects  -  overwhelmingly  the  result  of  the restructuring of the Group's  long-haul  segment  and  the  personnel cost provisions this necessitated - had a negative influence on the result.  In this challenging environment, it proved impossible to achieve  a  positive result. Following  the  successful  conclusion of  the  capital  increase, however, we have  taken  another important  step  towards  completing  our restructuring programme, and  are  now  in  a  position  to  implement  key measures more quickly. We are pursuing a clear strategy  focussing  on  the markets of Central and Eastern Europe, basing  that  strategy  on  a  well- established, strong brand. We shall  continue  to  move  forward with  our quality and product offensive in 2007."

Improvement in result situation Although the adjusted EBIT of the Group remained marginally negative at EUR -8.3m, this figure was up by EUR 43.7m, a major improvement on the previous year. The unadjusted EBIT including  extensive  extraordinary  positions  - mainly provisions for the redimensioning of long-haul routes, exchange rate gains and value adjustments for Slovak Airlines - improved from EUR -100.0m to EUR -89.0m.

Overall, this produced an annual result of EUR -129.9m (2005: EUR -129.1m). However, one of the most important factors in this result trend, which  was below expectations, were the continuing high kerosene prices experienced in 2006, which generated total additional costs for the Group of EUR 75.7m.

                                  An Overview of the Annual Result 2006

@@start.t2@@Key Figures            |                  |2006         |2005          |+/- abs.    |+/- %      |
Revenue                 |EURm         |2,593.2      |2,392.9          |200.3         |8.4         |
Operating revenue |EURm         |2,662.8      |2,485.8          |177.0         |7.1         |
Operating expenses|EURm        |-2,751.8    |-2,585.8         |-166.0        |-6.4        |
EBITDAR                 |EURm            |277.2         |303.5          |-26.3        |-8.7        |
EBITDAR adjusted 1|EURm            |348.7         |319.4            |29.3         |9.2         |
EBIT 2                  |EURm            |-89.0        |-100.0            |11.0        |11.0        |
EBIT adjusted 2,3 |EURm              |-8.3         |-52.0            |43.7        |84.0        |
Financial result  |EURm            |-49.1         |-29.6          |-19.5      |-65.9      |
Result before tax |EURm          |-138.1        |-129.6            |-8.5        |-6.6        |
Result before tax
adjusted 3            |EURm            |-50.1         |-94.9            |44.8        |47.2        |
Result from@@end@@

continued business  divisions              |EURm          |-139.6        |-131.3
|-8.3        |-6.3        | Result from  continued business  divisions

@@start.t3@@adjusted 3            |EURm            |-51.6         |-96.6            |45.0        |46.6        |
Annual result        |EURm          |-129.9        |-129.1            |-0.8        |-0.6        |
Net cash flow
from operating|                |                |                 |                 |              |
activities            |EURm            |360.2         |259.8          |100.4        |38.6        |
Net gearing          |%                  |91.2         |191.6          |                 |              |
Equity ratio         |%                  |24.5          |17.7          |                 |6.8 P.    |@@end@@

Passengers carried  total                    |Passengers|10,834,668|
10,119,773 |                      |7.1         | Passenger load  factor

@@start.t4@@services)              |%                  |74.0          |73.8          |                 |0.2 P.    |
Cargo                    |Tons          |171,284    | 160,992        |                  |6.4         |
    1. Adjusted by the result from the disposal of assets, other costs of the
         transfer of aircraft and foreign currency valuations at the  reporting
         date and the value adjustment at Slovak Airlines.
    2. Before incorporation of associated companies.
    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 recovery/impairment of the value of aircraft and  the  value
         adjustment at Slovak Airlines.@@end@@

@@start.t5@@end of announcement                                                 euro adhoc 07.03.2007 07:10:19

ots Originaltext: Austrian Airlines AG
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Further inquiry note:
Livia Dandrea-Boehm
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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