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Austrian Airlines flies back into black in first nine months

24 October 2007

Austrian Airlines said Wednesday that it flew back into profit in the first nine months of the current year thanks to an overhaul of its long-haul business, but third-quarter earnings were lower.

The Austrian flag carrier said in its interim report it booked net profit of 20.6 million euros (29 million dollars) in the period from January to September compared with a bottom-line loss of 25.8 million euros a year earlier.

Underlying earnings, as measured by earnings before interest and tax (EBIT), also swung back into the black, amounting to 32.2 million euros in the nine-month period compared with a year-earlier loss of 9.1 million euros.

source: Yahoo!

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