Headwind for AUA
How Asian airlines are flooding the European market
Austrian Airlines halved its operating result in the first three quarters to 77 million euros. This is also due to the painful competition from abroad, with Chinese and Arab airlines currently flooding the market. Numerous cancellations in the Middle East are an additional burden on AUA.
In the first half of the year, AUA already recorded a decline in earnings. Although the third quarter went well and revenue increased by around 6 percent, flight irregularities had a greater impact. "The temporary cancellations of connections to the Middle East, which are very important for us, are particularly painful," says AUA CEO Annette Mann. This affects the routes to Tel Aviv, Amman, Erbil and Tehran. The Middle East destinations have historically been of great importance for the Lufthansa subsidiary, and the domestic airline is the one most affected by the unrest within the Group.
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