Austrian Airlines lowers guidance, expecting 2014 'operating results to be only slightly positive'

Austrian Airlines revised (30-Oct-2014) its 2014 guidance downward, with the carrier now expecting "operating results to be only slightly positive." Austrian Airlines stated: "In spite of the previously mentioned crises in important areas of operation, Austrian Airlines is expected to generate moderate passenger growth and increased operating revenue thanks to the expansion of the fleet by one additional long-haul aircraft. Austrian Airlines now anticipates operating results to be only slightly positive. The change in the profit forecast is mainly due to the necessity to allocate provisions for the severance payments arising as a consequence of the new collective wage agreement." Austrian Airlines CEO Jaan Albrecht added: "Naturally I am not satisfied with the finance results. At the same time I am pleased that we reached an agreement in principle and thus found a solution on going forward into the future. This means we have revised our original guidance downwards once again to achieving slightly positive results this year." [more - original PR]