AUA: The high price of kerosene clearly increases profits
VIENNA. New long-haul aircraft have to wait for AUA in the Lufthansa group to be under-profitable.
At present, Austrian Airlines employs 7083 employees.
In the coming years, the AUA needs new long-distance planes. But they give it only when the performance is right. AUA with 3.8 percent of the margin (adapted EBIT) is under-profitable compared with Lufthansa (eleven percent) and Switzerland (12.2 percent), said AUA CEO Alekis von Hoensbroech.
In 2018, the company was hit by high kerosene prices and competitive pressure. Custom operating profit (EBIT) fell to 83 million euros, compared to 93 million euros in 2017. Without the special effect of 40.5 million euros from the changed accounting for engine overhaul, the wages would be halved more than half. Due to the new accounting standard of IFRS 15, revenues fell by eight percent to 2.2 billion euros, as well as total revenues: 2.26 billion euros (minus 8 percent). Adjusted for the accounting effect, sales rose by five percent and revenue by four percent. Hoensbroech also expects a challenging year for this year.
Lufthansa: the second best result
The mother of AUA Lufthansa flew in 2018 the second largest profit in its history. Operating income (adjusted for EBIT) amounted to EUR 2.8 billion (four percent less). Sales rose to 35.8 billion euros (plus 6.0 percent).
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