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May 22, 2015 5:54 PM ET


Company Overview of Austrian Airlines AG

Company Overview

Austrian Airlines AG operates as an airline in Austria. The company operates a global route network of various destinations primarily in Central and Eastern Europe. It also provides training for aircraft technicians. The company was founded in 1957 and is headquartered in Vienna, Austria. Austrian Airlines AG operates as a subsidiary of Deutsche Lufthansa Aktiengesellschaft.

Office Park 2

Vienna Airport

P.O. Box 100

Vienna,  1300


Founded in 1957


43 5 1766 1000


43 51766 5 1002

Key Executives for Austrian Airlines AG

Chairman, Chief Executive Officer and Member of Executive Board
Age: 59
Chief Financial Officer, Head of Investor Relations and Member of Management Board
Chief Operating Officer and Member of Management Board
Age: 51
Chief Commercial Officer and Member of Management Board
Age: 52
Executive Vice President of Corporate Subsidiaries & Corporate Projects
Compensation as of Fiscal Year 2014.

Austrian Airlines AG Key Developments

Kay Kratky to Replace Jaan Albrecht as New CEO of Austrian Airlines, Effective August 1, 2015

Klaus Froese, former Managing Director of Tyrolean Airways, moved to the Extended Management Board of Austrian Airlines to serve as Chief Operating Officer effective April 1, 2015. Since then, the Extended Management Board has consisted of Jaan Albrecht (CEO), Andreas Otto (CCO), Heinz Lachinger (CFO) and Klaus Froese (COO). Kay Kratky will replace Jaan Albrecht as the new CEO as of August 1, 2015.

Austrian Airlines Announces Earnings and Traffic Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of Fiscal 2015

Austrian Airlines announced earnings and traffic results for the first quarter ended March 31, 2015. For the quarter, the company succeeded in slightly improving its operating results by EUR 1 million compared to the prior-year quarter. The company reported a LBIT of EUR 53 million compared to EUR 54 million for the same period a year ago. Revenue fell 3.3% year-on-year to EUR 390 million. Yields clearly improved so that total operating revenue could be increased by 1.0% to EUR 427 million in spite of the reduced passenger volume and flight offering. In the first three months of 2015, two million passengers flew with the company, corresponding to a decline of 11.9% from the previous year. The flight offering was intentionally reduced by 6.9% in order to generate yield-improving effects. As a consequence, revenue passenger kilometers fell by 8.3%, whereas capacity utilization of the flights was down 1.2% points to 73.1%. The company operated a total of 27,507 flights using 74 aircraft in the first quarter of 2015, or the equivalent of 305.6 flights per day. The regularity of flight operations amounted to 99.2% and the rate of punctuality on departure was 91.1%. The company provided earnings guidance for the full year of fiscal 2015. The company expects additional earnings-improving effects from its successful ongoing restructuring program. In spite of a continuing difficult competitive situation, the company anticipates an improvement in its EBIT for the entire year 2015.

Austrian Airlines Announces Executive Changes

Klaus Froese will serve as the Chief Operating Officer (COO) in the Extended Executive Board of Austrian Airlines and assume responsibility for the operation. This Extended Executive Board will now consist of Jaan Albrecht (CEO until May 31, 2015), Andreas Otto (CCO), Heinz Lachinger (CFO) and Klaus Froese (COO). Jaan Albrecht, who has been the CEO of Austrian Airlines since November 2011, has accepted a position at SunExpress, a joint venture of Lufthansa and Turkish Airlines, and will serve as its CEO starting June 1, 2015.

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