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euro adhoc: Austrian Airlines AG
Strategic management decisions
Supervisory Board approves acceleration of long-haul restructuring and fleet harmonisation

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
01.11.2006
Resolution passed to cut four Airbus A330 aircraft to achieve
fundamental consolidation of Austrian long-haul programme
In an Extraordinary Meeting held on 1 November 2006, the  Supervisory
Board  of Austrian Airlines AG has approved the proposal of the
Board  of  Management  to cut the Airbus A330 fleet, which consists
of four long-haul  aircraft,  starting in 2007, in addition to
disposing of both  Airbus  A340-300  aircraft  in  2007. This move
will introduce a fundamental repositioning of the  Austrian
long-haul programme and represents a decisive step in the process of
fleet  harmonisation.
The reduction of the long-haul fleet will  streamline  the  Austrian
long-range route network. In  concrete  terms,  scheduled  services
to  Shanghai  will  be terminated from 7 January 2007, flights to
Phuket,  Mauritius  and  Colombo/Male from the end of April, and
those to  Kathmandu  in  May  2007.  Lauda  Air  will withdraw from
the long-haul charter segment in 2007. The routes  to  the  cities of
Karachi in Pakistan and Chennai  (Madras)  in  India  that  have
been  under evaluation will not be opened  up.  The  new  US
destination  Chicago  will  be incorporated into the network from 29
May 2007.
The adjustment of  routes  that  generate  losses  due  to
insufficient  direct traffic share is a precondition for  profitable
growth  in  the  future.  As  a consequence of these restructuring
measures the Group expects  -based  on  the losses accumulated in the
current year on the respective  routes  -  a  positive contribution
up to EUR 40m per year, which will - according  to  the  Management
Board assumption - reach its full-year effect  as  of  2009,  after
cutback  of costs related to these measures.
Disclaimer: This adhoc-release constitutes  neither  an  offer  to
sell  nor  a solicitation to buy any  securities.  A  public  offer
of  shares  by  Austrian Airlines  Österreichische
Luftverkehrs-Aktiengesellschaft  has  not  yet  taken place. Any
securities orders received prior to the  commencement  of  the  offer
period will be rejected. If a public offer is  made  in  Austria,  a
prospectus will be published in accordance with the Austrian Capital
Market Act.
This adhoc-release is not being issued in the United  States  of
America  (USA) and must not be distributed to "U.S. persons" (as
defined  in  Regulation  S  of the U.S. Securities Act of 1933, as
amended)  or  publications  with  a  general circulation in the USA.
This adhoc-release  does  not  constitute  an  offer  or invitation
to purchase any securities in the USA.  The  securities  of  Austrian
Airlines   Österreichische   Luftverkehrs-Aktiengesellschaft   have
not   been registered under the Securities Act and may not be
offered,  sold  or  delivered within the USA  or  to  U.S.  persons
absent  from  registration  under  or  an applicable exemption from
the registration requirements  of  the  United  States securities
laws.
end of announcement                               euro adhoc 01.11.2006 20:01:54

Further inquiry note:

Konzernkommunikation:
Johannes Davoras
Johann Jurceka
Tel.: 051766-1231

Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3700

Branche: Air Transport
ISIN: AT0000620158
WKN: 875224
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

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