Austrian Airlines attributes increased 2016 earnings to low fuel costs and one off agreement

Austrian Airlines attributed (16-Mar-2017) improved EBIT and adjusted EBIT in 2016 mainly to lower fuel costs and the positive one off effect from the conclusion of a long term lease agreement for a technical base with Vienna Airport. The expansion of bilateral traffic between Germany and Austria also had a positive impact with Austrian recording 500,000 additional passengers compared to 2015. The additional traffic was the main underlying factor in increased operating revenues. Load factor decreased mainly due to the deployment of larger aircraft. The workforce increased 8% year-on-year, mainly due to the hiring of new pilots and cabin crew. CFO Heinz Lachinger said: "The performance indicators look good on a superficial basis, but we should not be satisfied with our business results". [more - original PR]