Company Overview of Austrian Airlines AG
Austrian Airlines AG operates an airline in Austria. The company operates a global route network of various destinations primarily in Central and Eastern Europe with approximately 41 destinations. The company was founded in 1957 and is based in Vienna, Austria. Austrian Airlines AG operates as a subsidiary of Deutsche Lufthansa Aktiengesellschaft.
Office Park 2
Vienna - Airport
Founded in 1957
Key Executives for Austrian Airlines AG
Chief Financial Officer, Head of Investor Relations and Member of Management Board
Chief Commercial Officer and Member of Management Board
Executive Vice President of Sales & Passenger Systems
Executive Vice President of Corporate Subsidiaries & Corporate Projects
Compensation as of Fiscal Year 2015.
Austrian Airlines AG Key Developments
SilkAir, Austrian Airlines and Swiss Forms JV to Operate Key Routes and Expand Codeshare Ties
Nov 12 15
SilkAir, Austrian Airlines and Swiss, Some of the benefits of the agreement, such as the new codeshare services will be introduced in the coming months. Other elements of the agreement that require additional levels of regulatory approval will be implemented through 2016. Flights between Singapore, and both Frankfurt and Munich are to be operated under revenue-sharing arrangements. New SIA-operated flights between Singapore and Dsseldorf, which are to be launched in July 2016, will also be covered under the agreement. According to the JV, the two airline groups also plan to co-operate in key markets in Europe, Southeast Asia and Australia to provide customers more convenient connections between route networks by offering joint fare promotions, aligning corporate programs and exploring improvements to existing frequent-flyer programs. The expanded codeshare ties will provide SIA passengers with convenient passage to and from points in Austria, Belgium, Germany and Switzerland, via the transfer hubs of Frankfurt, Munich and Zurich, with more than 20 new codeshare routes. Lufthansa and Swiss will in turn codeshare with SIA and SilkAir on more routes in Southeast Asia and the Southwest Pacific. The codeshare co-operation is expected to be expanded further in future.
Austrian Airlines Expands Flight Offering to Ukraine and Romania
Nov 2 15
Austrian Airlines announced that the company is expanding its flight offering to Ukraine and Romania. Austria's national carrier will offer passengers two additional flights to Lviv each week and three additional weekly flights to Odessa in the summer flight schedule for 2016. In addition, one additional flight per week will be operated to Iasi in Romania. Accordingly, the country's carrier is flying to all three destinations on a daily basis in the upcoming summer flight schedule. By expanding flight service to Odessa, Lviv and Iasi, Austrian Airlines is raising total seating capacity in Ukraine and Romania by seven percent. Ukraine and Romania: Ukraine continues to be one of the most important markets in Eastern Europe for Austrian Airlines. The Majority of the passengers transfer onto flights bound for Western Europe or to the North Atlantic region. Kharkov had to be removed from the flight schedule due to the ongoing crisis in Eastern Ukraine. Nevertheless, demand in the rest of country has developed positively. The Austrian Airlines flight offering in Ukraine includes Kiev, Dnepropetrovsk, Lviv and Odessa. As a result, flight service will be offered to a total of four destinations in Ukraine in the summer flight schedule, encompassing 34 non-stop flights per week. Romania also remains an important market for Austrian Airlines. Austria's national carrier operates flights to Bucharest, Iasi and Sibiu. In addition, flights are also offered to Cluj in cooperation with the code share partner Tarom. As a result, Austrian Airlines will operate a total of 52 weekly flights to four destinations in Romania during the summer of 2016.
Austrian Airlines AG Reports Earnings Results for the Third Quarter and Nine Months and Traffic Results for the Nine Months Ended Sept. 30, 2015; Provides Earnings Guidance for the Year 2015
Oct 29 15
Austrian Airlines AG reported earnings results for the third quarter and nine months and traffic results for the nine months ended Sept. 30, 2015. For the quarter, the company reported revenue of EUR 640 million compared to EUR 611 million reported in the same period last year. Total operating revenue was EUR 675 million against EUR 633 million reported last year. EBIT was EUR 78 million against EUR 37 million reported last year. Adjusted EBIT was EUR 78 million against EUR 37 million reported last year.
For the nine months, the company reported revenue of EUR 1,591 million compared to EUR 1,574 million reported in the same period last year. Total operating revenue was EUR 1,705 million against EUR 1,646 million reported last year. EBIT was EUR 61 million against EBIT loss of EUR 4 million reported last year. Adjusted EBIT was EUR 61 million against adjusted EBIT loss of EUR 7 million reported last year.
For the nine months, the company carried passengers of 8.4 million compared to 8.7 million carried in the same period last year. Available seat kilometers was 17,846 million against 17,768 million reported last year. Passenger load factor was 78.8% against 79.9% reported last year.
In spite of the traditionally negative winter months of November and December, the company expects a significant rise in EBIT in 2015 compared to the previous year.
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