Austrian Airlines deepens 1Q net loss on LCC competition, higher costs
Austrian Airlines reported a 2019 Q1 net loss of E99m, widened from a E73m loss in the year-ago quarter. The company cited higher fuel and maintenance costs, as well as intense competition at its hub at Vienna International Airport, for the loss. During the quarter, strong competition resulted in an 4% year-over-year (YOY) total revenue to E382m. “The first quarter shows a mixed picture. We are happy about the passenger increase of 180,000 additional passengers, but we have effects on the cost and earnings side,” CFO Wolfgang Jani told ATW in Montreal on the sidelines of the carrier’s first flight from Vienna to the Canadian city. Q1 expenses were up 3% YOY to E502m, based on higher fuel and maintenance costs.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-01/star/austrian-airlines-deepens-1q-net-loss-on-lcc-competition-higher-costs
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Austrian Airlines deepens 1Q net loss on LCC competition, higher costs
Austrian Airlines reported a 2019 Q1 net loss of E99m, widened from a E73m loss in the year-ago quarter. The company cited higher fuel and maintenance costs, as well as intense competition at its hub at Vienna International Airport, for the loss. During the quarter, strong competition resulted in an 4% year-over-year (YOY) total revenue to E382m. “The first quarter shows a mixed picture. We are happy about the passenger increase of 180,000 additional passengers, but we have effects on the cost and earnings side,” CFO Wolfgang Jani told ATW in Montreal on the sidelines of the carrier’s first flight from Vienna to the Canadian city. Q1 expenses were up 3% YOY to E502m, based on higher fuel and maintenance costs.<br/>
