Austrian Airlines' black figures in half-year results provide tailwind for investments

Austrian Airlines’ black figures in half-year results provide tailwind for investments

Time Stamp: August 3, 2023 10:01 AM
Source Node: 2801171

Austrian Airlines has achieved a positive half-year result of €15 million, indicating a significant comeback after three challenging years. The airline’s return to profitability is attributed to high demand and good load factors. The second quarter of 2023 saw a revenue increase of 39%, reaching €664 million compared to the same period in 2022. Additionally, total operating revenue rose by 36%, reaching €680 million.

The airline’s positive performance was mainly driven by an increase in passenger numbers, with over 6.1 million passengers flown in the first half of the year, a 47% increase from the same period in 2022. Austrian Airlines’ transformation towards more sustainable operations includes modernising the long-haul fleet with ten new aircraft, investing in more efficient medium-haul aircraft, and adopting sustainable aviation fuel (SAF).

Austrian Airlines has been recognised for its quality, with the team awarded “Best Airline Staff in Europe” by Skytrax in June 2023. The company also increased salaries for its employees, focusing on flexibility and individualisation to enhance its attractiveness as an employer.

With the summer flight schedule offering more destinations than in 2019 and an already significant return of demand, Austrian Airlines is optimistic about its future prospects. The airline’s focus remains on being a warm-hearted host, providing a positive travel experience for its passengers.

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