31-Oct-2013 6:34 PM

Austrian Airlines confident of ending FY2013 with profit in 'low double-digit millions'

Austrian Airlines CEO Jaan Albrecht stated (31-Oct-2013) that "following a good summer, we are confident of ending 2013 on a positive note with profit in the low double-digit millions.” The carrier, in a prelude to the carrier's financial results as of 30-Sep-2013, said: "Austrian Airlines has improved the operating profit in the first nine months of the year (before one-time effects) by €10.3 million to €19.4 million. This increase was primarily achieved on the cost side, which also includes savings from the merger of the flight operations of Tyrolean and Austrian. Operational expenditure fell in the reporting period by €74 million or 4.3 percent from €1,722 million to €1,648 million". It also noted, "In the previous year, the transfer of flight operations to Tyrolean Airways significantly increased the profit by €67.5 million. The subsequent application of the new accounting standards IAS 19R increased this one-off effect by an additional €134.4 million. The unadjusted operating profit was therefore €210.9 million as at 30 September 2013". [more - original PR - German]

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