Austrian Airlines reports strong annual result for 2023

Austrian Airlines has achieved a significant annual result for 2023 with an Adjusted EBIT of 127 million euros, marking a clear return to profit. The success is attributed to stable flight operations and a sustained high propensity to travel, leading to a 24% increase in passenger numbers to 13.9 million, just below the pre-pandemic level of 14.7 million in 2019.

Key Points:

• Annual revenue increased by 25% to EUR 2.346 billion, and total revenue reached EUR 2.406 billion.
• Total expenses were 17% higher at EUR 2.279 billion.
• Adjusted EBIT for 2023 was EUR 127 million compared to EUR 3 million in 2022.
• The load factor was 81.9%, a 2.5 percentage point increase from 2022.
• Profit-sharing payment of over 30 million euros to all employees.

Austrian Airlines CEO Annette Mann expressed satisfaction with the teamwork, top-notch regularity, and punctuality, acknowledging the challenging aviation industry conditions due to geopolitical uncertainties. The airline plans to renew and expand its long-haul fleet earlier than planned, with the addition of Boeing 787-9 Dreamliner aircraft.

For the summer of 2024, Austrian Airlines will introduce the new long-haul destination Boston, bringing its intercontinental presence to 19 destinations. The route network for 2024 will encompass over 125 destinations.

CEO Annette Mann highlighted the need for team spirit and ambition in 2024, emphasizing the challenges posed by high inflation and location costs in Austria. Austrian Airlines aims to remain internationally competitive and continue its focus on North America for long-haul routes.

In the coming years, the airline plans to invest around three billion euros in the modernisation of its long-haul fleet to maintain and expand its leading position.