The airline Austrian Airlines was able to generate a positive adjusted EBIT for the first time since the beginning of the corona pandemic. The Lufthansa subsidiary closed the 2022 financial year with a profit of three million euros. There were 11,1 million passengers on board.

In 2020 and 2021, Austrian Airlines was deep in the red, partly due to the effects of the pandemic. In 2019, the adjusted EBIT was 19 million euros, before a minus of 2020 million euros was recorded in 319 and a deficit of 2021 million euros in 249.

The carrier attributes the current profit primarily to the fact that demand rose sharply in the previous year due to the extensive elimination of travel restrictions. In a media statement, “higher average ticket revenues” is used to describe the fact that the offer on many routes – in direct comparison with the pre-crisis level – was significantly lower, but ticket prices increased significantly.

“2022 was not an easy year for us either. In the first quarter of the year, air traffic was still very restricted in many places due to entry requirements. In February, with a war on our doorstep, spending on fuel and energy skyrocketed,” says Austrian Airlines CEO Annette Mann. “However, as a crisis-tested and flexible airline, we have won back our passengers with a solid summer performance. And ended up in the black!”

Carrier also benefited from employee pay cuts

In 2022, Austrian Airlines' annual turnover climbed from 743 million euros in the previous year to 1,871 billion euros (+152%) and was thus 11 percent below the turnover from 2019 (2,108 billion euros). At EUR 1,949 billion, total revenues were +152% and total expenses at EUR 1,946 billion were +90% above the previous year. For the first time since 2019 (Adjusted EBIT: 19 million euros), Austrian again generated a positive Adjusted EBIT with a plus of three million euros. As of December 31, 2022, Austrian Airlines employed 5.659 people.

But Austrian Airlines also benefited from a completely different circumstance: At the beginning of the corona pandemic, a savings package was agreed with the works council and union. This stipulates, among other things, that the salaries are reduced. The carrier is also currently not paying for the cleaning of the uniforms and there is no longer any catering at night stops. The crew meals, which were previously free on longer flights, have also been eliminated. The mood between employee representatives and the general management of the AUA is massively tense because the most recent negotiations were interrupted without result. On Tuesday, March 7, 2023, there will be staff meetings that could affect flight operations.

In the course of the presentation of the annual figures for 2022, Austrian Airlines emphasizes that the "solidary salary waiver" will be ended prematurely and that employees will be paid an inflation bonus of up to 3.000 euros. However, the employee representatives are also demanding wage increases and not just a return to the level of 2019.

Summer timetable 2023 with a focus on tourism

In the summer of 2023, the Austrian flight program includes over 120 destinations with seven new scheduled routes to Porto, Marseille, Billund, Tivat, Tromsö, Vilnius and Palermo. As in the previous summer, the US destinations will be served with a dense weekly frequency of up to 33 connections. Thanks to the relaxation of the conditions for travel to China and Japan, the Austrian Airlines flight offer to Asia can also be increased. From March, there will again be flights to Shanghai three times a week, with Austrian flying to Tokyo up to five times a week in the summer timetable. CCO Michael Trestl: “We want to delight our guests and welcome even more passengers in 2023 with a smile and our world-famous charm. Austrian Airlines offers a piece of Austria above the clouds worldwide!”

The current bookings and the further fleet growth in early summer with two of the four A320neo are already setting the course for a successful new financial year. The ongoing upward trend in the tourism segment is now also reflected in medium and long-term bookings. "We expect a significant improvement in earnings for 2023!" CEO Annette Mann concludes.

The AUA figures for 2022 at a glance:

The AUA figures for Q4/2022 at a glance: