Manufacturing Industry
Austrian Airlines reports decline in operating profit for Q3
Airline Industry Information, Oct 25, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Austrian Airlines has reported a decline in its operating profit for the third quarter of 2005.
The airline's operating profit fell 73.7% to EUR15.4m due to high oil prices and an overcapacity on the market.
Austrian said that its sales increased by 13.2% to EUR725.7m because of a gain in market share on its main destinations to Eastern Europe and the Middle and Far East with the traffic growth above average, Reuters reported.
The carrier's Q3 operating expenses increased by 17.1% to EUR735.6m, primarily because of the high fuel costs.
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