Financial result first quarter of the year: Austrian Airlines in start position for summer 2023 travel season

  • First quarter 2023: Adjusted EBIT at -73 million euros
  • Passenger numbers double compared to omicron quarter 2022
  • Austrian Airlines as Europe’s most punctual airline in February and March
  • Summer outlook: New aircraft and large variety of destinations
  • CEO Annette Mann: “We have prepared ourselves for an intensive summer with experienced and newly recruited staff in order to delight our guests with hospitality and cordiality.”

For the first time since 2020, Austrian Airlines was able to start the financial year without massive restrictions due to Corona measures. The national carrier achieved a good passenger load factor and comparatively high passenger volumes compared to the omicron-ridden first quarter of 2022. Due to increased expenses, however, the usually weak first quarter closed with a minus in the double-digit millions.

The first quarter results in detail

Austrian Airlines doubled its revenue to 400 million euros (Q1 2022: 201 million euros) compared to the pandemic-impacted first quarter of 2022. This was also significantly (+39%) higher than the first quarter of 2020, when the Corona pandemic hit (Q1 2020: 287 million euros). Similarly, total revenues duplicated to 413 million euros (Q1 2022: 208 million euros, Q1 2020: 304 million euros). In the same period, total expenses increased by 53% to 486 million euros (Q1 2022: 317 million euros, Q1 2020: 440 million euros), with fuel expenses almost doubling compared to Q1 2022. The adjusted EBIT of -73 million euros represents a 33% improvement on last year (Q1 2022: -109 million euros).

Austrian Airlines also doubled its passenger numbers in the first quarter of 2023 to around 2.3 million (Q1 2022: 1.1 million). This was also above the transport figures of the first quarter of 2020 (1.9 million). Similarly, at 4.7 billion, available seat kilometres were significantly (+41%) above those of the same quarter of the previous year (Q1 2022: 3.3 billion) and also above those of the first quarter of 2020 (4.5 billion). This trend is also reflected in the improved passenger load factor in the first quarter of the year by 14 percentage points compared to 2022 to 77.2%, which is also above the first quarter of 2020 (68.2%).

As of 31 March 2023, 5,766 people were employed by Austrian Airlines. For the first time since the start of the Corona pandemic, staff numbers show a slight increase (+3%) compared to the same quarter of the previous year. In preparation for the 2023 summer season the staff needed have already been successfully recruited in full. During summer, around 75 travel assistants will support Austrian Airlines’ staff at Vienna Airport.

CEO Annette Mann: “With the results of the first quarter, we remain on course. We are particularly pleased that we were able to welcome many new employees at Austrian Airlines in the first months of the year. We have prepared ourselves for an intensive summer with experienced and newly recruited staff in order to delight our guests with hospitality and cordiality.”

Summer 2023: Four new aircraft and 124 destinations

The growth in staff is triggered by the integration of four brand-new Airbus A320neo aircraft, which will be fully integrated into the red-white-red fleet by the summer. Austrian Airlines’ fleet will again number 65 aircraft this summer and will serve up to 124 destinations during the summer peak. Next to new additions in continental traffic, Los Angeles and Tokyo will again be part of the summer flight schedule. In addition to an expanded Premium Economy Class, Austrian Airlines offers its passengers the unmistakable red-white-red comfort. CCO Michael Trestl: “With our Flying Chefs and other culinary highlights, we want to offer our guests a special travel experience this summer: a piece of Austria up in the skies.”

Operational reliability as a goal for the peak season

After closing the year 2022 among the top five most punctual airlines in Europe, Austrian Airlines topped the list in February and March this year. With numerous new hires, especially in the operational areas of cabin, cockpit, technical and ground staff, Austrian Airlines has prepared itself for an intensive and challenging summer. COO Francesco Sciortino: “Last year’s good performance allows us to accelerate fleet modernisation and growth, but this also means huge investments for us. We will do our best this summer to live up to our passengers’ trust and we look forward to flying new long-haul aircraft around the world very soon.”

Overview of key facts and figures first quarter 2023:

 1-3 20231-3 20221-3 2020Change YoY 2021Change YoY 2020
Revenue in € million400201287+99%+39%
Adj. total operating revenue in € million413208304+99%+36%
Adj. total operating expenditures in € million486317440+53%+10%
Adjusted EBIT in € million-73-109-136+33%+46%
EBIT in € million-73-110-197+34%+62%
Passengers in thousands2,2541,1341,933+99%+17%
Available seat kilometers (ASK) in millions  4,6663,3134,521+41%+3%
Passenger load factor in %
Number of flights21,23813,34522,727+59%-7%
Fleet size (fleet in operation)636184+2-21
Regularity of operation98.8%99.2%95.2%-0.4pp+3.6pp
Punctuality on departure87.1% 91.1% 88.1%-4.0pp-1.0pp
Punctuality on arrival90.1% 92.3% 88.6%-2.2pp+1.5pp

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