euro adhoc: Austrian Airlines AG
Overcapacity in market leads to
reduction in load factor in fourth quarter - negative effect on
result from operating activities increased by high fuel costs
Forecast EBIT for 2004 (EUR 50 million) to be maintained on
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Targeted production cutbacks of 3 % of flights planned for next three months to be used to adjust network to overcapacity in Europe
Fuel surcharges for flights increased as of 29 November
Corporate performance in the fourth quarter is of decisive importance, particularly for the achievement of the forecast result for 2004. Due to factors which have become increasingly apparent in the course of the latest business period, the Austrian Airlines Group has been forced to adjust its forecast 2004 annual result from operating activities. Although the Group will still hold to its original target EBIT of EUR 50 million on an unadjusted basis, it will now be necessary to correct the adjusted EBIT to EUR 10 million.
end of announcement euro adhoc 22.11.2004 07:31:16
Further inquiry note:
Corporate and Market Communications:
Johannes Davoras
Johann Jurceka
Tel.: 051766-1231
Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3642
Branche: Air Transport
ISIN: AT0000620158
WKN: 062015
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing