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Austrian Airlines sees FY08 net loss EUR70-90 million, launches strategic review

11-Jun-2008
Airline Code [AUA]  View More Austrian Airlines News   
Austrian Airlines sees FY08 net loss EUR70-90 million, launches strategic review

Tags :Continental Europe, Austrian Airlines

(XFN Asia) Austrian Airlines AG, at its 09-Jun-08 board meeting, stated it expects to post a net loss of between EUR70 and EUR90 million in FY2008 due to the high price of oil. The meeting also launched a strategic review aimed at improving Austrian Airlines’ earnings potential via restructuring, as well as considering prospects for a strategic partnership.

 

The carrier added that its previous forecasts for 2009 are outdated in light of the current situation in the airline industry.

Reliable earnings estimates for 2009 and subsequent years will only be presented once the results of the strategic review are available.

Initial results of the review, which the board is carrying out with the Boston Consulting Group, will be published in end-July and detailed recommendations presented to the carrier's owners by the end of September.

Date posted: 11-Jun-08
 

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