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Austrian Airlines

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

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
annual report
07.03.2007
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
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
continued business  divisions         |EURm       |-139.6     |-131.3
|-8.3     |-6.3     | Result from  continued business  divisions
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.   |
Passengers carried  total             |Passengers|10,834,668|
10,119,773 |              |7.1      | Passenger load  factor
(scheduled
services)         |%            |74.0       |73.8       |           |0.2 P.   |
Cargo             |Tons       |171,284   | 160,992     |            |6.4      |
Legend:
   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 of announcement                               euro adhoc 07.03.2007 07:10:19

Further inquiry note:

Konzernkommunikation:
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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