Austrian Airlines Österreichische Luftverkehrs-AG
Austrian Airlines english
A Good Start as Turnaround is Successfully Initiated
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Financial Result of the Austrian Airlines Group for the First Quarter of 2002
In the reporting period of the first quarter of 2002, the EBITDAR reached EUR
40.6m, more than double the comparable figure for the preceding year (EUR
20.2m). The EBIT improved by EUR 11.8m to EUR -40.1m, and profit before tax also
rose – from EUR -61.1m in the first three months of 2001 to EUR -51.5m in the
first quarter of 2002. Both the flight revenue of EUR 428.4m and operating
revenue of EUR 477.8m were held at approximately the same level as the preceding
year in the first quarter despite sharply reduced production (available seat
kilometres were down by c. 10 %). Vagn Soerensen, Chief Executive Officer of the
Austrian Airlines Group made the following initial remark: ‘Clearly, the far-
reaching measures designed to reduce costs and increase revenue are already
having positive effects in the first quarter.’ He continued by defining his
credo for the company: ‘We are reforming the operational structures of the Group
with real determination, and shall continue to do so in the face of the
difficult work to come. While we are still in the early stages of recovery, we
are extremely fortunate to have a highly motivated team that possesses the
staying power that is so crucial.’
end of ad-hoc-announcement (c)DGAP 07.05.2002
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WKN: 062015; ISIN: AT0000620158; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, München,
Stuttgart
070854 Mai 02
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