Austrian Airlines has officially announced its performance results for 2018, showing uncertainty regarding its earnings.
The company finished a year of high passenger demand but the environment remained challenging, with the rise of the price of fuel. Austrian Airlines’ Adjusted EBIT dropped to EUR 83 million in 2018 from 2017’s EUR 93 million. The carrier’s revenue rose to EUR 2.2 billion, showing positive signs of improvement.
The airline transported a total of 13.9 million travelers during the year, setting a new record high in its history and improving 2017’s passenger numbers by 8%.
Chief Financial Officer Wolfgang Jani shared that although the company is pleased to announce its passenger traffic record, the rise in competition is worrying and fuel prices may be a significant threat factor to the company.
2019 is expected to remain a difficult year for operations, especially resulting from the high number of LCCs operating at Vienna Airport. Ten additional medium-haul aircraft are expected to enter the fleet by 2021 to support the changing needs of the company.
Source: Aviation 24