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July 06, 2015 7:11 PM ET

Airlines

Company Overview of Austrian Airlines AG

Company Overview

Austrian Airlines AG operates 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

Austria

Founded in 1957

Phone:

43 5 1766 1000

Fax:

43 51766 5 1002

Key Executives for Austrian Airlines AG

Chief Financial Officer, Head of Investor Relations and Member of Management Board
Chief Operating Officer and Member of Management Board
Age: 52
Chief Commercial Officer and Member of Management Board
Age: 53
Executive Vice President of Corporate Subsidiaries & Corporate Projects
Executive Vice President of Austrian Production Company
Age: 54
Compensation as of Fiscal Year 2015.

Austrian Airlines AG Key Developments

Austrian Airlines to Launch Flight Service to Manchester

Austrian Airlines announced that it will add a new destination to its route network in 2015. Starting September 10, 2015, the airline will operate a new service to Manchester. In addition to the existing 28 weekly flights to London, the additional frequencies to Manchester by up to seven times per week will strengthen connections in both directions as well as within the Austrian Airlines network. With Manchester and London, Austria's national carrier offers direct flight service to British destinations up to five times daily.

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 AG Reports Traffic Results for the Month and Year to Date Period Ended April 2015

Austrian Airlines AG reported traffic results for the month and year to date period ended April 2015. In the month of April 2015, Austrian Airlines carried a total of 931,900 passengers. Passenger volume rose from the previous month of March 2015 as a result of the beginning summer flight schedule and the Easter holidays, but still comprised a year-on-year decrease as planned, declining by 7.3% compared to April 2014. The flight offering in available seat kilometers was up 6.5%, primarily as a consequence of flight service to Newark which had not yet been part of the flight schedule in April 2014. Revenue passenger kilometers were down 2.7%. Capacity utilization (passenger load factor) was 73.7% on average, a drop of 7.0 percentage points from the previous year. In the period January to April 2015, Austrian Airlines continued to proactively reduce its flight service in accordance with its business plan due to the weak demand at this time of the year, and increasingly shifted technical checks to this time span. The airline’s flight offering measured in available seat kilometers (ASK) was cut back by 3.0% from the previous year, whereas revenue passenger kilometers (RPK) dropped by 6.6%. Passenger volume totaled 2.9 million, comprising a decline of 10.5% from the prior-year period, as expected. The passenger load factor was down 2.8 percentage points to 73.3%.

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