Tough Times Continue At Austrian Airlines

Flag carrier Austrian Airlines has confirmed a €53m ($58.8m) operating loss for Q1 2015, a slight improvement on its €54m ($59.9m) loss during the same period last year.

Flag carrier Austrian Airlines has confirmed a €53m ($58.8m) operating loss for Q1 2015, a slight improvement on its €54m ($59.9m) loss during the same period last year.

The Lufthansa-owned airline saw revenues fall 3.3 per cent year on year to €390m ($433m), while operating expenditures rose by 0.7 per cent to €480m ($534m), something it attributed to higher maintenance costs after a number of technical checks were rescheduled to Q1.

“The first quarter is a traditionally difficult period. For this reason we focused on leveraging further cost effects in winter of 2014/15, which we succeeded in doing thanks to an improved maintenance concept,” said CFO Heinz Lachinger.

Austrian’s CEO Jaan Albrecht described recent years as “very tough” as the carrier restructured, but said that the focus now was on “customers and further development of our business”.

In publishing its results the airline stated: “In spite of a continuing difficult competitive situation, Austrian Airlines anticipates an improvement in its EBIT for 2015.”

TAGS: Europe
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