Austrian Airlines Österreichische Luftverkehrs-AG
Ad hoc-Service: Austrian Airlines AUA
Ad-hoc announcement sent by DGAP.
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A FINANCIALLY STRONG AUSTRIAN AIRLINES GROUP
Groups capital resources built up to ATS 10.8 billion
Positive Group results expected
Austrian Airlines Executive Board stated, with regard to
the financial situation, that the Austrian Airlines Group
presents itself as financially strong, continuously
building up capital assets, and with good future
potential, thanks to its proactive Group, alliance, and
capacity-strategy.
The Group disposed of self-generated funds amounting to
ATS 10.8 billion by the end of 2000. That is equivalent
to about EUR 23 per share in comparison to an actual
share price of about EUR 13.30. Thus, the market
capitalization amounts to 60% of the own capital.
Moreover the Group holds billions in hidden reserves in
the fleet.
Despite difficult conditions and negative developments at
Lauda Air, Austrian Airlines and the whole Group kept
building up capital last year. A positive annual result
for the Year 2000 is expected for Austrian Airlines,
Tyrolean Airways, and the Group.
The existence of liquid assets of about ATS 10 billion as
at 31 December 2000 also demonstrates Austrian Airlines
Groups financial strength.
A study of the Investment Bank Schroder Salomon Smith
Barney, published on 17 January 2001, certifies to
Austrian Airlines great recovery chances for 2001 based
on the Groups restructuring and Lauda Airs
reorganization.
Austrian Airlines management introduced and will soon put
into action the positive aspects of Star Alliance in
terms of capacity management, as well as those found
within the Lauda Air reorganization and the improvement
of synergy potential all this resulting from measures of
the companys management.
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