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DGAP-Ad hoc: Austrian Airlines english = - 500 Beiträge pro Seite



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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



Autor: DGAP import (),11:40 22.08.2001



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