Austrian Airlines Österreichische Luftverkehrs-AG
Austrian Airlines english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
RESULT OF THE AUSTRIAN AIRLINES GROUP
FOR THE FIRST HALF OF 2001
Passenger transportation increased by 5.5 %
Passenger load factor rose by 2.5 percentage points to 68.1 %
Adjusted profit before tax: EUR -57.7 million
Full consolidation of Lauda Air had noticeable negative effect on result
The first half of 2001 was marked by extremely unfavorable general conditions
for the Austrian Airlines Group: the slowdown of the American economy, the
economic downturn in Europe, the escalating Middle Eastern crisis, high fuel
costs, and the strong US dollar made up the difficult external factors. In
spite of these circumstances – and against the international trend – the
Austrian Airlines Group was able to achieve in its operative business both clear
growth in the number of passengers and also a better passenger load factor,
which led to an increase in revenue. However, the Austrian Airlines Group
results remained under the previous year s level. The reasons for this were the
negative effect of high cost of capital, largely caused by the full
consolidation of Lauda Air, smaller profits from fixed asset sales, and the
valuation of foreign currency liabilities at the reporting date. Nevertheless,
reducing existing capacity and canceling future investments initiated an
optimization of the financing structure. Parallel to this, the streamlining of
the Group, which will already have a positive effect in the amount of EUR 30
million in the second half of 2001, is being implemented.
For the second half of the year we expect a continued difficult environment. The
Austrian Airlines Group will make every effort, through the accelerated
implementation of Group integration and the continuous adjustments of our
product and of cost management, to achieve a balanced result for 2001. This will
be based on clearly improved operative results but substantially smaller
profits from aircraft sales.
end of ad hoc announcement (c) DGAP 22.08.2001
——————————————————————————–
WKN: 062015; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, München,
Stuttgart
221137 Aug 01
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found