With revenue of EUR 783 million in the third quarter of 2024, Austrian Airlines (AUA) is showing a solid performance despite difficult conditions. Adjusted operating profit (Adjusted EBIT) rose to EUR 139 million and remains stable above the previous year's level. Thanks to the increase in tourism and growing demand, AUA is heading for a high double-digit annual result.
Nevertheless, the airline faces geopolitical uncertainties, ongoing operational challenges and a significant cost burden from flight cancellations and delays. The costs of irregularities were around 60 percent higher than in the previous year, mainly due to the tense situation in the Middle East and unforeseen strikes in Hungarian airspace.
High demand and solid performance despite restrictions
Despite a lower adjusted EBIT of 77 million euros for the first nine months of the year, AUA was able to transport 4,7 million passengers in the third quarter and achieved a fleet utilization rate of 87,2 percent. The punctuality rate of AUA flights remained constant at an impressive 99,3 percent, which continues to make the Austrian airline one of the most punctual in Europe.
In a challenging time when business travel is still below pre-crisis levels, AUA is focusing on tourist routes and is expanding connections to Rovaniemi and Kittilä in Finland in winter 2024/25. Routes to Edinburgh and Sylt are planned for summer 2025.
Location problems in Austria: Demand for political measures
One problem area that is particularly affecting Austrian Airlines is the high taxes for departures from Austria, which are the highest in Europe after Germany and have increased by a third since 2019.
CEO Annette Mann warns of the long-term danger that the high taxes and location costs could affect competition and calls for political measures to secure the Vienna hub. Compared to Prague, the tax burden for a departure with an A320 aircraft in Vienna is seven times higher. AUA sees this as a long-term challenge and hopes for support from the future government to mitigate this high tax burden.
The most important figures of the third quarter at a glance:
| Q3 2024 | Q3 2023 | changeto VJ | |
| Sales in € million | 783 | 741 | + 6 % |
| Adj. Total revenue in € m | 811 | 762 | + 6 % |
| Adj. Total expenses in € m | 672 | 633 | + 6 % |
| Adjusted EBIT in € million | 139 | 129 | + 8 % |
| EBIT in € million | 138 | 128 | + 8 % |
| passengers in thousand | 4.674 | 4.466 | + 5 % |
| Available seat kilometers (ASK) in millions | 8.429 | 7.741 | + 9 % |
| Occupancy (passenger factor) in% | 87,2 | 87,7 | -0,5pp |
| Number of flights | 35.154 | 33.442 | + 5 % |
| Fleet size (existing fleet) | 68 | 65 | +3 |
| regularity | 98,5% | 99,3% | -0,8pp |
| Punctuality at departure | 60,7% | 73,9% | -13,2pp |
| Punctuality on arrival | 68,4% | 81,6% | -13,2pp |
| Employees | 6.179 | 6.008 | + 3 % |
| 1-9 2024 | 1-9 2023 | changeto VJ | |
| Sales in € million | 1.853 | 1.805 | + 3% |
| Adj. Total revenue in € m | 1.914 | 1.855 | + 3% |
| Adj. Total expenses in € m | 1.838 | 1.711 | + 7% |
| Adjusted EBIT in € million | 77 | 144 | -47% |
| EBIT in € million | 73 | 143 | -49% |
and 