Austrian Airlines

euro adhoc: Austrian Airlines AG
Quarterly or Semiannual Financial Statements
Fundamental Restructuring of Austrian Airlines Group to be continued (E)

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Result Trend and Balance Sheet for 3rd Quarter (1-9/2003 incl.)

During the first nine months of 2003, a period characterised by numerous geopolitical crises and a lasting intensification in competitive pressure, the Austrian Airlines Group used effective management to achieve a result from operating activities (EBIT) of EUR minus 7.5m. The profit before tax was EUR -19.0m, compared to EUR 35.6m in the third quarter of last year. For the full year, the result from operating activities (EBIT) is forecast to break even. Due in particular to the effects of the crises in the early months of the year, the passenger volume of the Austrian Airlines Group for January-September 2003 fell by 5.9 % to 6,441,304 passengers carried.

Vagn Soerensen, Chief Executive Officer of the Austrian Airlines Group, made the following statement concerning the result for the Third Quarter 2003: "Having been able to implement massive countermeasures to meet and partially absorb the negative effects of the first half-year, we returned to our offensive course in the early summer. Based on the redesigned market presence, an extensive product and offer offensive has been launched, which will be followed by a geographical offensive in Central and Eastern Europe. The fundamental restructuring of the Austrian Airlines Group has to be continued if we are to look confidently forward to a successful future. If Austria wishes to continue to have an independent airline with a traffic system designed to suit the needs of the Austrian domestic market, then we must not flinch from making decisions over complex issues in the course of that restructuring!"

Third Quarter Result: an Overview

                                                                 1-9/2003  1-9/2002    +/- %
Revenue                                                EURm 1,505.1    1,673.5    -10.1
EBITDAR adjusted 1                              EURm    186.9        290.3    -35.6
EBITDAR                                                EURm    271.9        377.6    -28.0
EBIT adjusted 2                                  EURm    -23.4         47.3          -
EBIT                                                    EURm      -7.5         61.8          -
Profit before tax adjusted 2              EURm    -37.4         13.2          -
Profit before tax                                EURm    -19.0         35.6          -
Cash flows from operating activities EURm    211.4        428.2    -50.6
Passengers carried                                  6,441,304 6,843,740      -5.9
Passenger load factor
(scheduled services)                            %         70.4         71.5      -1.1P.

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

end of announcement            euro adhoc 06.11.2003

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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