Austrian Airlines Österreichische Luftverkehrs-AG
Ad hoc-Service: Austrian Airlines Correction

Ad hoc-announcement edited and sent by DGAP. The sender is responsible for the content of this announcement. —————————————————————————— Corrected announcement on behalf of the issuer: In today’s Ad-hoc-announcement, the first paragraph, seventh sentence, instead of: “… first quarter was EUR 51.9 million (2000: EUR 22.3 million) ..” it must read: ” … first quarter was EUR – 51.9 million (2000: EUR – 22.3 million) …”. In the eighth sentence, instead of: ” … stood at EUR 61.1 million (2000: EUR 34.2 million).” it must read: ” … stood at EUR – 61.1 million (2000: EUR – 34.2 million).” In the fourtenth sentence, instead of: ” … increased from EUR 21.5 million ..” it must read: ” … increased from EUR – 21.5 million …”. The complete corrected announcement is: ——————————————————————————– The Austrian Airlines Group recorded further strong increases in its revenue and operating revenue in the first quarter of 2001, even though expenses also grew considerably following the full consolidation of Lauda Air, investment in new aircraft and extremely high fuel costs. The streamlining of the Group, which was begun last year, has been consistently taken forward: as a result, significant synergy effects may now be expected as soon as the second half-year of 2001. The EBIT for the first quarter was EUR – 51.9 million (2000: EUR – 22.3 million) and profit before tax stood at EUR – 61.1 million (2000: EUR – 34.2 million). When adjusted for profits from asset sales (EUR 2.0 million), the results are on budget. The decline in results in the first quarter needs to be seen in the context of the strongly seasonal business cycle that is typical for airlines. Again, the full consolidation of Lauda Air had an intensifying effect here. Based on a change in working capital and increased depreciation, cash flows from operating activities of the Austrian Airlines Group increased from EUR – 21.5 million in the first quarter of 2000 to EUR 13.3 million this year. The first quarter was marked by a further rise in passenger figures (+9.1 %) and strong growth (+7.7 %) in the Cargo Division. ——————————————————————————– WKN: 062015; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, München, Stuttgart End of Message