Austrian Airlines' third-quarter loss jumps to 75.7 million euros
Vienna - Austrian Airlines's net loss jumped to 75.7 million euros (112 million dollars) in the third quarter of 2009, the company said Thursday, in the first report since its takeover by German carrier Lufthansa in September.
The loss was more than four times bigger than in the same period last year, when it stood at 16.4 million euros.
A decrease in passenger numbers of nearly 9 per cent and financial provisions for the current restructuring programme contributed to the negative results, the airline said.
Sales plummeted by 20 per cent to 557.7 million euros.
The carrier made operating losses of 63.8 million euros, compared to a losses of 12.1 million euros in last year's third quarter.
"The crisis is brutally manifesting itself," chief executives Peter Malanik and Andreas Bierwirth said in a statement.
Austrian Airlines is currently implementing a programme to cut personnel expenses and slash some 1,500 full-time positions by the end of next year.
Its new parent company Lufthansa on Wednesday reported a net loss of 32 million euros for the first nine months of this year.
Austrian Airlines made a loss of 242.3 million euros in that period.