Austrian Airlines Group reports loss of EUR 166.6 million

In the first half of 2009, the Austrian Airlines Group posted a net result of minus 166.6 million Euro, including non-cash impairment losses of 74.3 million Euro resulting from the valuation of aircraft. The adjusted resulting from operating activities (EBIT) amounted to minus 88.4 million Euro, with the second quarter EBIT of minus 18.1 million Euro perceptibly better than the first quarter, at minus 70.3 million Euro. Following a negative cash flow of minus 13.8 million Euro in the first quarter 2009, Austrian Airlines succeeded in generating a positive cash flow of 35.0 million Euro in the second quarter of 2009. On balance, the cash flow from operating activities for the first half-year was 21.2 million Euro. As at the balance sheet date of June 30, 2009, the liquidity of the Austrian Airlines Group totaled about 180 million Euro (consisting of 84.1 million Euro cash and cash equivalents and 95.5 million Euro disposable securities).