Austrian Airlines

Austrian Airlines reports challenging first half of 2024, focuses on strong second half

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  • Financial Performance: Austrian Airlines posted an Adjusted EBIT of -62 million euros for the first half of 2024, a significant drop from the +15 million euros in the same period of 2023. Total revenue slightly increased to 1.1 billion euros, while expenses rose by 8% to 1.2 billion euros.
  • Operational Highlights: The airline carried 6.5 million passengers, a 6% year-on-year increase, and added new destinations, including Boston, Bremen, and Tbilisi. The load factor decreased by 1.7 percentage points to 78.3%.
  • Challenges: The first-half performance was impacted by an intense labour dispute, adverse weather conditions, and geopolitical issues. Rising costs, particularly in salaries and maintenance, also contributed to the weak financial result.
  • Strategic Investments: Austrian Airlines introduced the Boeing 787-9 Dreamliner to its fleet, with two already in service. These long-haul aircraft are expected to enhance the passenger experience and efficiency.
  • Awards: The airline’s cabin crew was honoured as “Best Cabin Crew in Europe 2024” by Skytrax, reflecting high passenger satisfaction and service quality.
  • Outlook: CEO Annette Mann emphasised the need for a strong second half to achieve a high double-digit result. Focus areas include stable operations, customer satisfaction, and process digitalisation. The airline aims to improve competitiveness despite high location costs and external challenges.
  • Future Plans: Austrian Airlines continues to expand its route network and improve connectivity within Austria and to international destinations. The airline remains committed to being the leading carrier in Vienna and enhancing its overall service offerings.

This post was published on 31 July 2024 16:10

André Orban

M. Sc. Engineering

Published by
André Orban
31 July 2024 16:10

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