Austrian Q1 results greatly improved

Austrian Airlines Group have posted good first quarter results, a strong starting-point based on restructuring measures and the introduction and expansion of it’s Focus East strategy. Austrian Chief Executive Officer Alfred ?-tsch today offered the following summary of the newly-released figures: ‘Our operating result (EBIT) improved significantly in the first quarter of 2007 compared to the previous year, rising from EUR -50.1m to EUR -19.0m, and now forms a sound basis for the further development of the financial year 2007. Last year’s successful capital increase and steady implementation of our redimensioning processes throughout the company are key factors in our future. The restructuring measures and closure of unprofitable long-haul routes are already well underway, and a social plan has been worked out and agreed with the Staff Council for employees affected both directly and indirectly by the changes. The impact of our and service offensive are already measurable in passenger figures and we will continue with the quality focus in 2007: the refitting of our long-haul Business Class sections with lie-flat sleeper seats is largely complete, and we expect passengers to be enjoying DO&CO catering on board our flights from the summer of 2007 onwards.’