Austrian Cargo: Silver lining on the horizon
Financial statements 2010 of Austrian Airlines are quite patchy – but they are on the right way
Austrian Cargo increased traffic performance by 1.9 per cent to 2,124 billion total revenue tonne kilometres (RTK)in 2010. Liner services showed a 4.3 per cent increase. Transport performance within Europe rose 11.8 per cent; intercontinental traffic grew moderately by 0.6 per cent. This reflects the group’s strategy of transferring long distance freight operations to the parent company Lufthansa. Austrian Airlines will continue to play an important role In Central and Eastern Europe within the Lufthansa group. As for cargo business, activities were bundled at the Vienna hub in the joint subsidiary Austrian Lufthansa Cargo GesmbH. The Austrian Airlines group roughly achieved its target results in the 2010 financial year. The company reduced its loss from operating activities from minus EUR 230.9 million to minus EUR 64.7 million. They achieved a positive EBITDA of EUR 170.0 million (2009 figure: minus EUR 71.9 million). Despite the difficulties caused by the volcanic ash and the fact that Austrian Airlines had to stabilise its capacity, the number of passengers rose by 9.7 percent to 10.9 million people. The company’s total revenues rose by 3.3 percent to EUR 2.150 billion. The Members of the AUA Executive Board, Andreas Bierwirth and Peter Malanik, see the restructuring of the enterprise far from being completed, though they are moving in the right direction. In 2010 staff was reduced by 1,132 persons to 5,933 employees – as measured in full-time positions. Quelle: LogEastics |